Is there a project that you are keen to take on but that you aren’t completely convinced about? Perhaps you worry that this might not be the right time to start it after all.
It can be extremely tricky to work out whether the moment is right to start up a new PRINCE2 project. How can you do this in a way that leaves you feeling completely in control of the whole process?
How Urgent Is It?
It is clear that some projects are more urgent than others. Some may be needed by a certain date to meet a regulatory requirement. Others might be important for helping you to make more money, or to avoid losing it.
In other cases, the project might simply be something that it would be nice to have. Perhaps you are keen to improve some area of the business but there is no real need to get it done right away.
If you have a list of future projects then it makes sense to put them into order of priority. You might be surprised at which ones are the most urgent after you analyse them all.
Can Your Team Handle It?
Regardless of how urgent a project is, you need the people in place to deal with it. You simply won’t get anywhere if you try and take on a piece of work that you don’t have the resources to handle.
There are two distinct ways of dealing with this. One is to simply admit that it would be better to wait before you try and deal with this issue.
The other approach you could be tempted by is that of increasing the team. Could you hire some new staff or else get some PRINCE2 Training Dublin sorted out for your existing staff? There are benefits to each of these approaches, so it is worth considering whether to hire or train.
What Are the Alternative Projects?
If you are deliberating over whether to start a new project or not then a good idea is to compare it to the other pieces of work that you could take on. Is it likely to be more or less beneficial to your company than the other PRINCE2 projects you could run?
This is why it is so important to define the benefits of any project that you are thinking of starting up. Until you know exactly what to expect from it, you can’t be sure whether it is the right one to get going with just now.
It is always a good time to begin a piece of work that is going to give you benefits. However, if something else is going to be even more beneficial then it would surely be better to do this instead.
Do You Have the Budget in Place?
The budget is another area of project planning that deserves you putting a good deal of thought into it. Naturally, many of the projects that fail do so simply because of a lack of money.
Therefore, it is essential that you look at two points before you go any further. First of all, how much of a budget do you have to carry out this work?
Secondly, how much will the project cost you in total? Working out the cost of a PRINCE2 project can be time-consuming and awkward but it definitely needs to be done before you go any further.
If you miss out any of these steps then it is going to make it a lot more difficult to turn the entire project into a success.