Why Studying PRINCE2 Can Boost Your Start-Up

Anyone establishing a start-up should be seeking out ways to improve their business. In many instances, qualifications and courses can be the gateway to improving your business prospects.

Project management - PRINCE2

PRINCE2, which is an acronym for Projects In Controlled Environments, is a widely used method of project management. There are seven themes and seven processes in PRINCE2. These cover everything from beginning a project to ensuring you learn from past experiences. Using all seven processes makes a project a PRINCE2 Project. In-depth PRINCE2 courses can fast-track you to a full qualification, which includes both the Foundation and Practitioner courses, in just five days. Here’s why learning PRINCE2 can benefit business owners, particularly those who are setting up a start-up.

Organisation Skills & Initiating Projects

Learning to organise effectively is a skill which can apply to all areas of your start-up, not just project management. A PRINCE2 course will teach you how to plan a project thoroughly and then deliver it successfully. This approach to work is highly efficient, it is a worthwhile attitude to begin in the initial stages of your start-up and maintain as your business grows. One of the main reasons studying a PRINCE2 course is so desirable is because it is a highly practical qualification which you can use throughout your lifetime.

Knowing how to plan a project will help you to successfully initiate it. Ensuring there is a valid reason for beginning the project is important. So is careful budgeting. A PRINCE2 course will give a start-up business owner the confidence to plan and deliver a project, regardless of the size of their team or business venture.

Risk Management

It is inevitable that all start-ups have to go through a trial and error phase when they are first establishing themselves. Learning to identify potential risks when establishing a new project is crucial for reducing the wastage of valuable resources and money.

Studying PRINCE2 provides the skills needed to assess what could happen if a project goes wrong and will potentially minimise errors. The course teaches business owners how to learn from past mistakes and continually improve their methods.

Business management

Stage Management

One of the seven key areas taught in PRINCE2 is stage management. This is the process of continuing to assess a project as it moves forward. Knowing how to identify when the approach to a project needs correcting is a vital skill as it will prevent projects from going off track. This is particularly important for start-ups as they can’t afford to waste money, time or resources with projects that are going in the wrong direction.

Adapting To Change

When establishing your start-up, it is likely you created a business plan to work with based on market research. Many entrepreneurs fail to remember that their business plan must continually adapt to meet current trends and the economic climate.

Being able to adapt to change is one of the most valuable skills a business person can have. A PRINCE2 course offers guidelines on several aspects of change control, which will enable you to develop and adapt projects as changes occur without their quality or success being negatively impacted.