For many businesses, it is purely a lack of financial resources that stops them from carrying out more projects. The company leaders might be incredibly keen to do this, but if the money isn’t there then this is going to be almost impossible to arrange.
Having said that, moving over to the PRINCE2 way of running projects can help you to stretch out your budget further.
Plan Effectively
One of the biggest reasons that money is wasted on projects is because of a lack of serious planning. If you don’t have a clear route ahead then there is a good chance you run into rough waters at some point, which can mean spending more money than expected to sort it out.
In much the same way, if you don’t plan well then you might not be sure whether you can even get started. Might a project that is perfectly feasible get cancelled because you think that you don’t have enough resources to follow it through?
The PRINCE2 methodology puts a lot of emphasis on planning effectively. This approach allows you to appreciate exactly how much you will need to get the entire piece of work wrapped up.
Build Up Your Own Team
The cost of building up a full team of project experts is another issue that can cause headaches for any company. Experienced business analysts and project managers earn healthy salaries that can make it difficult for you to fund the building of a new team from scratch.
Fortunately, the fact that you can easily arrange PRINCE2 Foundation Dublin gives an alternative option that should be at a lower cost. If you have existing team members who are interested in moving over to project work then this can turn out to be a really smart move.
As well as saving you money, this approach can also mean that you foster better links between the business areas and the PRINCE2 team.
Work Remotely
Another way of keeping project costs to a bare minimum is by encouraging the team to work remotely. This is made a lot easier to do when you are all working to the PRINCE2 methods on each piece of work.
A good example of how this could work is by hiring remote workers who live somewhere with lower salary costs than where your main office is located. You can also ensure that you have less overheads in terms of heating, rental etc when you have a remote team.
The good communication principles that are a big part of PRINCE2 projects make remote working a lot easier. There is far less chance of mix ups and communication breakdown when you all work together like this.
Get Things Right First Time
Of course, the previous points are all well worth knowing about. However, there is an even bigger benefit to using this highly respected project methodology. That is the fact that it helps you to get the right results every time.
It is a clever way of working that leads you through any type of project one step at a time. Even an inexperienced project manager can feel confident about taking on their first ever piece of work when they use these processes.
Cutting out the failures can mean that far less money will be wasted on the projects that you run. By getting through to a successful conclusion at the first time of asking, you will make the best possible use of your resources, as well as having more incentive to take on more pieces of work in the future.
You certainly shouldn’t think that having a relatively small budget stops you from running the projects you are dreaming of.