[Music] hey guys this is eric from invensis and i welcome you to our youtube channel in today's session we will discuss about prince2 principles themes and processes in detail by the end of this video you will be able to completely understand the various principles themes and processes of prints too so do watch this video till the very end before we get started i would like to address the agenda for today's session we will start this session by talking about what exactly is prince2 it will just be a brief introduction to prince2 for people new to this topic then we will discuss the various principles of prince2 the various themes related to prince2 and the various processes in prints too so i hope the agenda for today's session is clear and guys if you like our video do not forget to subscribe to our youtube channel and also hit the notification bell never to miss an update from the invensis learning channel also if you are looking for an online training certification in prince2 or pmp check out the link given in the description box below so starting with our first topic what is prince2 prince2 stands for projects and controlled environments prince2 is a process-based project management methodology that will help you learn the core skills you'll need to be a successful project manager it is widely recognized as one of the most widely used project management methodologies it is structured to help both entry-level and more experienced project managers progress in their careers prince2 teaches you skills that will help you manage a project more successfully and effectively it will also help you advance in your profession in many organizations having prince2 is required to work as a project manager in addition 88 of project managers say prince2 has helped them in their work so this was just a brief introduction to prince2 now let us start with the main topics for today and talk about prince2 principles themes and processes starting with prince2 principles there are seven core principles which are continued business justification second is define roles and responsibilities third is focus on products fourth is learn from experience the fifth is managed by exception sixth is managed by stages and seventh is tailored to suit the project environment let us talk in detail about them one by one first is continued business justification the prince2 project requires continued business justification so every project requires a business case which means that the reason for starting the project makes sense from a business perspective and there should be a very clear return on investment the business case document describes the entire business case showing why the project needs to be run the costs expected benefits and completion time this information is also known as business justification information business case documents are one of the first documents created in a project so you will not be able to start some of the projects which is of little use to your company also the legitimacy of the business is then reviewed throughout the life of the project this review can be done at the end of each phase now projects that have begun to comply with the new law also need justification for example the cost of violating a new law can affect a company's market share or cause the company to lose customers the principle continued business justification supports the need for documented justification at the start of a project and during a project so that decisions are to be made with business value in mind in addition business cases are regularly reviewed during the project to verify the eligibility of a going concern second is defined roles and responsibilities in every project people need to know what they are doing their roles and responsibilities and expectations from others it is a very important principle to be implemented right from the start prince2 states that the project needs to define and agree on roles and responsibilities within an organizational structure that incorporates the interests of business users and supplier stakeholders according to prince2 the project has three major actors they are business sponsors users and suppliers now the business sponsors make sure the project delivers value for money users are the common people who can use the product as soon as it is created and enjoy the benefits next the supplier provides the resources and expertise for the project to produce the product this principle states that the project management team and the project board must represent these three key stakeholders it is done through the following standard roles in prince2 first is the project board which includes executive a business oriented person who is responsible for the overall project next is senior users which is one or more people representing the needs of end users on board and then senior supplier which is one or more people representing the suppliers interests so these were the project board members next we have project assurance which protects the interests of key stakeholders change authority determine part of the change request on behalf of the project board next is the project manager responsible for ongoing project management on behalf of the project manager and project board next the project supports who support project managers in project management activities finally we have the team manager which is one or more personnel responsible for ensuring quality and other production variables within the team the third is focus on products a proper project product description will assist in guiding the project setting realistic expectations and providing the essential products so this principle is all about focusing and providing all the necessary products or materials required in the project a prince2 project focuses on the definition and delivery of products in particular their quality requirements according to the prince2 guidebook a good product description clarifies the objective content derivation format quality requirements and quality process it's also easier to figure out resource needs dependencies and activities with a strong product description it will be difficult if the product is not properly described every project participant can have different ideas about what the product should be it can lead to unnecessary meetings time dilations unnecessary new requirements misunderstandings about the required quality additional costs and even end products can go wrong according to the focus on products philosophy a product description is to be created as soon as feasible and as clearly as possible in the project so that all stakeholders know what to anticipate fourth is learn from experience the project teams using prince2 should learn from previous projects as a result they should take the initiative to learn from the lessons learnt earlier and apply them throughout the project's life cycle each project is unique meaning that there is always something new each project has its element of risk as a result of this we may also say each project has certain unknowns that are to be examined you can now understand why prince2 encourages project teams to take the initiative to learn from similar projects that may have been completed in the same organization or seek assistance from other external sources such as any external consultants learn from experience applies throughout the project's life cycle from the beginning to the end from starting a project to closing a project also any project related learnings are to be documented in the lessons log so that the lessons are documented and passed on in future initiatives prince2 also argues that instead of waiting for someone else to give lessons learned it is the obligation of everyone working with a project to seek them out fifth is manage by exception each level of the project organization uses manage by exception to manage the level below it the layer below should only inform the management layer above if a major problem exceeds its tolerance the prince2 term for a major problem is exception which indicates that the problem is beyond the agreed upon tolerance let me explain it in simple words now it is a word that most individuals who are new to prince2 will not be familiar with so i'll start with a simple explanation and then give you the prince2 definition for better understanding when it is a matter of time cost and scope the project manager has considerable tolerance before they notify the project board that there is or could be a problem for example expenses could fluctuate by 10 percent now suppose the problem is minor and falls within the tolerances in this case expenses rise by 2 less than the 10 tolerance the project manager can handle it without alerting the project board and wasting their time assume you're on the project board right now unless there is an exception you will not hear from the project manager other than for frequent reports during and after the stage if everything is going well but if the expenses rise by 11 percentage or more then the project board is to be informed about this problem this is an exception hence the phrase manage by exception the project manager send an exception report to the project board when an exception occurs according to the prince2 definition a prince2 project has set tolerances for each project aiming to create boundaries of delegated authority prince2 lists six tolerances that are to be set those are time cost quality scope risk and benefit next the sixth principle is managed by stages a great way to perform large tasks or projects is to divide them into manageable parts in prince2 these manageable blocks are called stages or these are called management stages a prince2 project is planned monitored and managed in stages the project board separates these management phases into decision points known as control points at the end of each phase the project committee evaluates the progress of the last phase the business case and the plan for the next phase and decides whether to proceed to the next phase or make any more changes in the current phase instead of one big project many project phases give the project committee more control over the project but it also requires more work fewer project phases indicate that senior management has less control and work on the project committee working in stages has advantages and is a good approach to project planning for the following reasons such as you can divide your project into several manageable parts which will be easier to manage and if there is any problem it is easier to find and solve it next have a high level project plan and a very detailed phase plan for the entire project next ensure that planning for future phases is learned from previous phases for example if your team delivers a product faster than expected you can consider this when planning your next level a project has at least two management phases a start phase and an additional management phase the project completion process is the final part of the second phase of a two-stage project to conclude this principle it can be said that the prince2 project is planned monitored and managed in stages the seventh principle is tailored to suit the project environment tailoring is the process of effectively applying an approach to a project to achieve a good mix of project control and minimal administration it means your project is being tailored to suit your project's environment while doing this the size environment complexity importance capacity and risk of a prince2 project is to be considered for example if your project is small such as hosting a workshop for 10 people or huge such as building a power plant you should customize prints 2 to fit the project's needs as prints 2 can be used for every sort of project tailoring is used to achieve the following goals first is to verify if the project method is appropriate for the project setting next is to determine if the project's controls and methods for measuring progress are appropriate for the project size complexity importance capability and risk now many people believe they don't need a project management approach because their projects are too little or the process has too much overhead however they don't comprehend that they can and should customize the project technique to their project rather than increasing the project's complexity to fit prints too people's initial impression of tailoring involves picking elements from the prints to approach and applying them to a project but these bits become isolated and the project no longer qualifies as a prince2 project the goal is to use a degree of project management that does not overload the project while providing adequate control some of the things you'll think about are what are the best ways to adapt the themes which terms or languages are to be incorporated is it necessary to change product descriptions for administration goods to make them more understandable to stakeholders and many more you might also think is it necessary to change the prince2 project role descriptions for example to align with current standards now to do tailoring some level of tailoring knowledge and expertise is required if you are new to prince2 or project management in general the issue of tailoring might be tough to comprehend just keep in mind that tailoring does occur as you have more expertise with prints too it will become simpler to comprehend if you've previously worked on a project a smart place to start is by asking the project manager what they would do differently if they had to do it all over again if you have solid project management and prince2 expertise tailoring projects for prints2 becomes considerably easier so you might be wondering now what all should be tailored in a project you can tailor major project parts such as the themes terms and languages management products roles and responsibilities and processes so let us talk a little bit more about them themes themes are usually tailored especially through the customization of management strategies terms and language each company might have its own set of terms and language a project brief for example is often referred to as a project charter while a business case is sometimes referred to as a project case it can be good to use these phrases instead of prince2 terminology during the project management products prince2 provides management products to help with project management it may be adjusted to fit the way a business operates for example a project that works with various items may require a distinct configuration items record template roles and responsibilities although prince2 has standard roles descriptions they are customized for each project for example if a company does not have project support the project manager will need to find someone else to handle configuration management another example is if an organization has a project management office and a person responsible for benefits management approach the tasks should be transferred processes all processes should be customized however they vary for every project for example a project management office may want to start a project but instead of starting with a project mandate it may provide an outline of the business case to the project brief another project may follow a feasibility study project so most management products produced in the first two processes may comprise the project's outputs so this was about taylor to suit the project's environment and about prince2 principles now let us move on to our next section which is prince2 themes prince2 themes are knowledge areas like they provide the necessary knowledge about how to go about a specific part of the project here the part of the project includes business case planning quality etc therefore themes are an integral part of a project that is addressed continuously throughout the project's life cycle so there are seven themes in prince2 business case change organization plans progress quality and risk let us discuss each of them one by one first starting with business case the purpose of the business case theme is to provide a structure to decide if the business case is desired viable achievable and worth the continuing investment made during the project the business case gathers data to help management decide if a project is desired practical doable and worth investing in now unless it is given by corporate or program management the business case is usually generated during the starting a project process it is then kept up to date during the project's lifecycle so now let us talk about the content of the business case the content of the business case includes the reason for the project the project's total cost estimation the risks associated with the project and the project's benefits in addition it contains the following parts first we have an executive summary a shorter summary of the business case usually made for the upper management the second point is it should include the reasons for doing the project the third is business options now according to prince2 three options are considered concerning any investment the first of the three options is to do nothing in which nothing much is to be done for example a natural calamity occurs during a project and the project is affected by it now in this scenario nothing much can be done next is do the minimum which is the name suggests some actions are to be taken and for doing this a detailed business analysis showing all the cost factors changes factors should be presented next is to do something which means some actions are to be taken to minimize the loss this option would also normally require a detailed business analysis the fourth content of the business case is expected benefits which should contain a list of every benefit and how to measure those the fifth content of the business case is expected dis benefits a dis benefit according to prince2 is an outcome that is seen negatively by one or more stakeholders it can also be known as a negative side effect next is time scales which includes the project start and end time and when the benefits are realized the seventh content is costs which would include the total cost for the project and the maintenance costs required after the project eighth is investment appraisal which includes return of investment information or the calculation and finally it should include all the major risks which includes a summary of the major risks which usually come from the risk register so this was about the content of the business case now let us talk about the process of creating a business case the first is develop which is to develop the business case next is verify which is to verify the business case the third is maintain which is to maintain the business case fourth is confirm the benefits which defines the benefits and the benefits management approach so there are totally four processes so let's talk about each of these processes one by one the first is to develop the business case now developing or creating the business case is one of the responsibilities of the executive however it can be written by others or with assistance for example the executive can involve an individual from the financial department to assist with the financial information now this process happens before the project starts the outline of the business case is normally included in the project mandate document and explains why the project is necessary next at the starting of a project process the content for the business case is obtained from the project mandate and pasted into the outline finally the business case is included in the project brief next during the initiating of a project process the executive normally extends the outline business case document into the business case document with the support of others and it forms part of the project initiation documentation the second process is to verify the business case it refers to determining whether or not the business case is effective the project board does this verification several times or at several points during the project for example point one is at the end of the pre-project or starting a project procedure point two is at the end of the project initiation procedure point three is in the managing a stage boundary procedure at the start of each new delivery stage anytime the business case is revised or evaluated there are additional verification points the project manager will verify for a continuous business reason during the stage boundary procedure when an exception occurs to say it in simple words the business case is used to support the project's continued viability the third process is to maintain the business case maintaining the business case entails maintaining the business case up to date as a live document to reflect current project events it is done throughout the risk or issue assessment process or at the end of a stage a rise or decrease in cost new information on issues and risks and so on are examples of common changes so if you have this question when should the business case be updated during the project the answer is at the end of each step you should update the business case since you will have the real cost of the previous stage maybe even the revised cost of the next stage and any information on issues and risks the fourth process is to confirm the benefits benefits are identified and noted at the start of the project in the benefits management approach in the business case next you must indicate how the benefit is evaluated and when the benefit is recognized now the benefits management approach is where you'll find all this information most benefits are recognized after the project is completed although some are gained during the process this step confirm the benefits examines if the anticipated benefits have been achieved so this was about business case now let us move on to our next theme which is change themes the change theme is concerned with on-demand progress and issues during the project again the goal isn't to avoid changes rather it is to agree upon them before they are executed the change theme also describes what are the roles and responsibilities of the executive and the project board the information in the change theme is designed to assist you in identifying assessing and controlling any possible modifications to previously authorized and baseline products the change theme is not just for dealing with change requests but also for dealing with problems throughout the project in reality it's more accurate to state that the change theme establishes a standard approach to issues and change management now we know change is unavoidable in any project and all projects require a method for identifying assessing and controlling concerns that might lead to change this topic outlines a method for managing issues and changes now prince2 has six management products that are used to control issues changes and configuration management first is change control approach this document outlines the project's approach for dealing with issues and modifications for example how to identify products how to control them and how to do status verification second is configuration item record each product used in the project provides a collection of data like metadata for example the central desk in a library will have information about the books like the location the number of the books etc in the same way this is a record of the product used in the project third is the product status account now this is a report on the status of products fourth is daily log the project manager keeps a daily journal for any informal information and all the formal data is recorded in a register it can be called an issue or a risk register fifth is issue register so imagine a spreadsheet for capturing and maintaining issues sixth is an issue report which refers to a report that goes into great detail about a specific problem for example a change request and off specification or a problem are all examples of issues according to prince2 an issue report might also include descriptions of similar concerns so they aren't always risky the next theme is organization the organization theme specifies that one of the first things a project manager should do before starting a project is figure out who is who in the company and what are their roles and responsibilities the knowledge in this theme is intended to help define and establish the project structure of accountability and responsibilities there are four levels in the organization theme corporate or program management level direction level managing level and delivery level now let us talk about them one by one in detail first level is the corporate or program management level this level is in charge of commissioning the project and determining who will be the executive in addition they select how the project board will keep them updated throughout the project and set the project tolerances which the project board will work within at the start of the project the next level directing or the project board the project board is in charge of the project's direction and is liable for its success they carry out the following tasks all resources and effective plans must be approved such as the project plan and stage plans next allow any deviation if limits are expected to be exceeded or have already been exceeded next approve the completion of each stage before moving on to the next next communicate with other stakeholders such as corporate or program management the project board's job is described in directing a project the next level managing or project manager the project manager is in charge of the project's day-to-day operations the major role of the project manager is to guarantee that the project provides the needed goods for the project's goals which include time money quality scope risk and benefits the next level is delivery or team manager the team members are in charge of delivering the project's deliverables to a high standard of quality schedule and budget a team manager may be in charge of developing strategies and leading a team to generate and deliver the needed goods the teams generate the products of the professionals in the managing product delivery process this was about the organization theme the next prince2 theme is plans the plans theme describes the plan for the execution of the project it focuses on the products the timeline the cost the quality and the benefits the plan as you might expect is the foundation of every project it is produced at the start of the project and updated throughout to highlight what has been accomplished and what remains to be accomplished to assess how well the project is performing compared to the original plan the initial plan is compared to the current plan of the project or the plan at the end the initial baseline signed off and dated plan is also known as the original plan as a result a plan must include enough information to demonstrate that these goals are met so there are three plan levels because it is almost impossible to plan the entire project at once at the start therefore the three types of plans are project stage and team plans let us talk about these plans one by one the project board is used by the project plan and is used at the direction level it is a high level plan for the whole project generated during the initiating a project process it illustrates the project's primary products when they'll be delivered and how much they cost it is the project board's primary control document the project manager is in charge of updating the project plan next the stage plan is used at the management level it is prepared for each stage and is utilized daily by the project manager it's a lot more extensive than the project plan yet it only covers one stage finally the team plans are used at the delivering level the team manager creates and uses them as part of the managing product delivery process we will discuss this process in detail in the next part of the video the main goal is to plan the tasks that the team manager has been allotted in work packages now talking about the steps taken in planning the prince2 approach to plans has the following seven steps that are easy to understand which are design the plan where you should choose the plan's design and format next defining and analyzing goods which is done through product-based planning next identify activities and dependencies which include activities used to create the products next prepare estimates where the time and resource estimates should be made next prepare a schedule which puts tasks on a timer and presents them in order next document the plan include a narrative to describe the strategy including assumptions lessons learned requirements plan introduction monitoring control budgets and tolerances moving on analyze the risks new information on new and current risks will be revealed throughout the preceding processes and they will need to be followed so this was about the planned themes now let us talk about the next theme which is progress the progress theme sets up the tools to monitor and compare the actual accomplishments against the planned in addition it forecasts the project's objectives and its continuing viability and it manages any unnecessary deviations the purpose of the information in the progress theme are explained in three parts to figure out how to track and compare actual results to those expected during the project next to produce a projection for the project's objectives and long-term viability next to be able to keep any unwanted deviations under control and checking progress against the plan ensuring project feasibility and regulating any deviations are all part of progress now let us look into the prince2 approaches to progress progress in simple terms is about checking the actual progress against the planned performance targets of time cost quality scope benefits and risk now prince2 provides control through four main ways first is moving authority from one level to another for example from project board to project manager second is organizing the project into manageable phases and approving each one separately third is progress reports based on dates and events for example highlight reports fourth is using exceptions use exceptions to notify the top layer if a major problem arises that is if it is out of tolerance the project's employment of these controls is determined early on and recorded in the project initiation documentation under the progress category so this was about the progress theme now so let us move on to our next theme which is quality the objective of the quality themes knowledge is to establish and implement a system for creating and verifying products that are fit for use and meet requirements as a result the prince2 approach outlines the quality theme to ensure that products created during the project satisfy expectations and that the end product can be utilized as intended the quality theme is identified with the emphasis on the principles of the products quality can be a conceptual idea so defining it towards the start of a project is important to keep the work on track quality can also be described as a product's total amount of features or qualities that meet or exceed expectations and satisfy the stated needs it's the same as saying that all of the products features must work as expected for a certain period of time there are two parts to the prince2 approach to quality one is quality planning and the other is quality control now quality starts with identifying all of the products that the project wants to control remember that prince2 is all about the products from the beginning of the project or as soon as they can be accepted and agreed upon and before development begins the next stage is to establish a product description for each product containing quality standards how the products will be evaluated quality techniques to be used to design develop and accept the products and the roles and responsibilities of people involved quality control implements and monitors the project's quality methods let us talk about them one by one in detail the first is quality planning the purpose of quality planning is to agree on the overall quality expectations and acceptance criteria with the project board next make a list of the quality requirements next document how the quality criteria are to be checked next communicate these agreements with all stakeholders and all stakeholders must have a shared understanding of the project's outcomes next determine how quality are managed throughout the project and set each product's baselines and tolerances next is quality control quality control is carrying out all the activities to control the quality as defined in the quality management approach quality control is divided into three sections executing quality control measures such as quality review techniques next is keeping track of quality and approvals next is obtaining client acceptance and passing the acceptance record to them so this was about quality themes now let us move on to our next prince2 theme which is a risk the risk theme's goal is to give a method for identifying assessing and controlling uncertainty during a project in order to increase the project's ability to succeed now risk management is not simply done at the start of a project it must be a continuous action throughout the project's lifecycle it is therefore one of the project managers primary responsibilities the executive is in charge of risk in a project and they rely on the project manager to continually identify analyze and control risks throughout the project now prince2 recommends a series of five phases called the risk management procedure the first four actions are sequential but communicate will always be done to keep stakeholders informed and obtain input throughout the process so risk management steps are identify first finish the project's risk management approach document and then identify the project's potential risks second is access assess the risks in terms of their likelihood and influence on the project's goals next is plan your plan phases are to prepare a detailed response to risk for example to help reduce or avoid the threat or to plan to maximize the opportunity if the risk occurs next is implement if a risk arises carry out the planned responses outlined in the preceding step communicate keep communicating to the stakeholders use management reports that were prepared during the project as a starting point so this was about risk management steps now let us talk a bit about risk registry as it is a very important topic the risk register records all of the risks discovered and related to the project including threats and opportunities as a result it keeps track of all risks including their current condition and history the risk register can contain the following information risk identifier this is simply a one of a kind number second is risk author the person who raised the risk next date registered the date on which the risk is registered next risk category each project has its own set of risk categories one of them quality network legal and supplier will be chosen next risk description it is written in a certain manner e g cause event and effect moving on next is probability impact select a value from an agreed scale it can be very low low normal etc next proximity refers to how soon or when risk is likely to occur and then the risk response category if a threat exists define avoiding reducing falling back transferring accepting or sharing decide whether to enhance exploit reject or share an opportunity next is risk response a list of steps to do to mitigate the risk and then risk status the current state of the risk is either active or closed finally the risk owner who is the individual in charge of risk management and then risk actiony or the person who will carry out the activities stated in the response so this was about prince2 themes now so let us move on to our next topic prince2 processes now a process is a group of activities that are organized to achieve a specified goal starting up planning operating controlling and ending a project are all covered under prince2 it group these tasks into processes prince2 is a project management methodology based on processes seven steps align with the core principles and will help you complete the project each procedure provides a collection of actions the prince2 manual describes these actions which assist you in directing managing and delivering a project there are seven processes in prince2 which are starting up a project initiating a project directing a project managing a stage boundary controlling a stage managing product delivery and closing a project let us talk about them briefly one by one starting up a project is the first process in prince2 it's a step-by-step procedure for ensuring that all of the prerequisites for starting the project are in place this procedure aims to provide the project board with the information they need to decide whether or not the project is worthwhile the procedure assumes the existence of a project mandate which outlines the project's purpose and desired conclusion in high-level terms now the objective of starting a project is to prepare for and ensure that the following tasks are completed throughout and after the process first is a business case also known as business reason it should be detailed in the business case outline however the business case document is not finalized until the initiation stage next examine the project strategy which considers the best method to tackle this project and seek guidance from previous projects in the form of lessons learned experts or even outside information then select the people who will work on the project's initialization and other roles in the project team next create the project brief which contains information on the project scope and the majority of the data gathered during this phase then create a detailed stage plan which includes the work to be done in the initiation stage so these were the objective of starting a project next the inputs for this process are the project mandate which comes from outside the project provides the trigger to start the project next the project mandate may include information such as the project's motivations some business case material and maybe other information needed by the project brief next the project manager should seek lessons from other projects moving on to the output for this process is project product description this is usually a one to three page description of the main product produced by the project both the quality and plans topics address the structure of this paper next is outline business case this is one of the responsibilities of the executive its goal is to give some financial backing for the initiative next project management structure or pmt this will provide you with information about the pmt structure which is project manager project board assurance change authority next project approach this section of the document will define the project's approach then the project brief contains all of the four mentioned information and other details such as the scope roles and duties and six performance goals next the initial plan which is a day-to-day plan for the initiation stage is created by the project manager then request to initiate the project the s u processes outcome as a request to the project board to initiate the project which allows the project's initial stage to begin the project manager delivers the project board both the project brief and the initiation stage plan so this was about starting a project process now so let us move on to the next process initializing the project the initiating a project process aims to figure out what work needs to be done to provide the desired results before determining whether or not to proceed with the project this knowledge is required the objectives of this process are initiating a project requires laying a solid foundation for the project to understand what it will accomplish initiating a project can be a huge financial investment for a business so it is required to plan and manage the remaining of the project the project manager will create a collection of management products to indicate how the project is managed the cost how quality is verified planned how communication will be done and so on while initiating a project so this was the objective of this process now the inputs for initiating a project are the authority to initiate the project is the trigger which usually comes from the project board next the project brief which comes from the su process the project briefs material is expanded and updated and included in project initiation documentation now initiation stage plan comes from the starting up of a project process next the outputs for initialing a project are structure of the project management team enrolls descriptions next the project plan which is a comprehensive plan for the whole project containing all product descriptions then the business case which is the responsibility of the executive contains the facts needed to justify the project most often the project manager will support the executive as part of the pid between the project manager and the project board the project initiation documentation serves as a contract next output is an overview of how the project is managed then the benefits management approach which provides an overview of what benefits will be achieved when realized throughout and after the project and who is accountable for them then request to deliver a project the initiating a project process output is a request to the project board to deliver the project or sign off on the pit and continue the project so this was about initiating a process now so let us talk about the next process which is directing a project directing a project runs from the start of the project until its closure the project board is the target of this process the project board administers and monitors the project through reports and controls at various decision points the objective of directing a project process is to direct the project to decide on various parts of the project such as initialization of the project delivering the project's products providing direction and control during the project reviewing the post-project benefits communicating the information between the corporate and program management and closing the project these are some of the objectives of directing a project next let us talk about the activities within directing a project process so there are five activities in this they are the first is authorizing initiation which allows the starting of the initiation stage the second is authorizing the project which allows the starting of the delivery stages the third is authorizing a stage or exception plan which reviews the current stage and authorizes the next stage or authorizes an exception plan to complete the current stage fourth is giving ad hoc direction which means the project board guides the project fifth is authorizing project closure which means shutting down the project after a series of checks it was about directing a process now let us move on to the next process controlling a stage controlling a stage defines the project manager's monitoring and control tasks for ensuring that a stage stays on track and responds to unexpected events the process is fundamental for the project manager's efforts since it is the process that handles the project's day-to-day management the objectives for controlling a stages the delivery of the products which is the focus of attention next control risks and issues then review the business case and deliver the stages products to the agreed-upon quality at the agreed upon cost and schedule and with the defined benefits these were the objectives for controlling a stage next talking about the inputs for controlling the stages the project board's authorization is the trigger for each controlling the stage process to begin the stage plan and the project initiation documentation information are the most important inputs next the outputs for controlling a stage are the highlight report used to keep the project board updated about the stages progress then the project manager monitors issues risks and quality regularly and changes the issue register risk register and quality register accordingly next issue reports which include change requests are used to raise issues to the attention of the project board next the exception report is used to report whether the stage is out of tolerance and near the end of the current stage the management begins a stage boundary procedure so this was about controlling stage processes the next process is managing product delivery the managing product delivery process manages and controls the work between the project manager and the team manager by imposing formal criteria on product acceptance execution and delivery the objectives for managing product delivery is ensuring the following first the team is assigned products that have been approved and agreed upon next the team knows exactly what has to be done and how much time effort and money it will take then the next objective is that the planned products are supplied on time and within budget next the project manager receives accurate progress reports from the team manager so these were the objectives of managing product delivery so next the inputs for managing product delivery are first the project manager provides the authorization to deliver a work package second the information required by the team managers are contained in the work package for example product description which includes the quality criteria tolerances description of work frequency of checkpoint reports etc these were the inputs now talking about the outputs for managing product delivery first is checkpoint reports treated by the team manager regularly to keep the project manager up to date on the work package's progress next the quality register is updated whenever the products have passed or failed their quality tests in addition the project manager may also view the quality register to check managing product process next the update configuration item records now configuration item records or sir documentation is updated as product status changes for example the status might change from not developed to quality tested to developed and so on next are approved products now approved products are the products that have been created and delivered so according to the change control approach documents instructions they'll be handed over the following output is the message issued by the team manager to the project manager advising them that the work package is complete which is known as a completed work package so this was about managing product delivery now so let us move on to our next process managing a stage boundary the primary purpose of managing a stage boundary process is that the project manager must update the project plan and business case as well as establish a stage plan for the following stage and offer a summary of the current stages progress to the project board then the project board will be able to examine the current stage approve the next stage review the revised project plan and confirm the continued business justification using this information this is the main purpose of this process now talking about the objectives of managing a stage boundary first is to assure the project board that all current stage items have been produced and authorized next review and update the standard documents such as the project initiation documentation business case project plan and risk register if necessary then in the lessons log record any lessons which can be used for future projects next prepare the stage plan for the next stage and obtain authorization to begin it now there are certain activities in managing a stage boundary which include planning the next stage updating the project plan updating the business case and reporting the stage end these were the activities of this process now talking about the inputs for this process there are three plans for inputs in managing a stage boundary first is stage plan the information from the current stage plan is important and required for the end stage report second is project plan information from the project plan is required for the next stage plan which is a part of the project initiation documentation third is the exception report information from the exception report is required for the exception plan so these were the inputs for managing a stage boundary now moving on the outputs in managing a stage boundary the next stage plan where we can say the exception plan is created next the end of stage report provides a summary of the stage's performance then the business case and project plan are also updated and next the project manager will request the project board to proceed to the next stage or return and finish any changes in the current stage so this was about managing a stage boundary process now let us talk about the next process to close a project this process aims to execute a controlled close to the project the process includes the project manager's work to bring the project to a close either on time or ahead of schedule the majority of the work consists of preparing input for the project board to obtain their approval for the project to close the closing a project process acts as a checkpoint to ensure that it has met its objectives also that the products have been accepted now the objectives for closing a project are verify that the users have accepted the project's products next confirm that goods will continue to be supported after the project has disbanded then review the project's performance by comparing the project to the baseline documents next assess the benefits that have already been realized and make plans to review the benefits that will be realized after the completion of the project next follow up on action recommendations to address open issues and risks these were some of the objectives for closing a project next the activities included in closing a project are preparing plan closure which confirms the acceptance and completion of products next preparing premature closure which is performed instead of prepare planned closure process if requested by the project board then handover of products which was described in the change control approach document then evaluate the project which compares the project objectives with the previous actual plan and writes it down in the end project report the fifth is recommendation project closure which is to send a notification to the project board to close the project moving on to the inputs for closing a project the closing a project process is triggered by two events a natural close near the end of the project and a premature closing initiated by the project board all other input documents are used as the project manager wants to prepare an end project report and close the project next the outputs for closing a project are first is the lessons report whose information comes from the lessons log second is follow-on action recommendations which are comments given to individuals who support the products third is updated configuration item record which ensures all the product configuration item record documents are up to date fourth is the updated benefits management approach created by the project manager who updates the benefits plan after the project is closed fifth is the end project report which is a report on the project's performance and finally a request to the project board to send a closure recommendation by the project manager so this was about the closing a project process in prince2 processes i hope you understood prince2 principles themes and processes and with this we have come to an end of this video i hope it was helpful thank you have a wonderful day