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Project management steps

This diagram shows the five phases of project management: initiation, planning, execution, monitoring, and closing.

Training that teaches the PRINCE2 method and prepares you for Foundation and Practitioner exams. Knowledge Train provides classroom, live virtual and self-paced options, with exam options available.

This image shows a project charter with components: purpose, objectives, stakeholders, budget, timeline, and risks.

What is the latest version of PRINCE2?

The latest PRINCE2 edition is Managing Successful Projects PRINCE2 (7th Edition, 2023)
to each project and reflects modern best practice in project management.What is the PRINCE2 game?
The PRINCE2 Project Management Game
is a 3-hour interactive simulation that lets students apply PRINCE2 principles to a fictional project. Players face realistic project dilemmas and learn decision-making skills. It’s included free with

Practitioner-level training

and can be paused and resumed anytime.What level qualification is PRINCE2 equivalent to in the UK?

The

This diagram illustrates SMART goals: Specific, Measurable, Achievable, Relevant, and Time-bound, each with icons.


This image shows a project plan with elements: goals, scope, resources, schedule, budget, and requirements.

ation (e.g., emails, meetings)
Content Always active Outline what information will be sharedChoosing the right PRINCE2 training provider is vital if you are to get the best support and overall learning experience. Read
ResponsibilitiesSelecting the best PRINCE2 training provider Assign roles for creating and disseminating information for tips on choosing a good PRINCE2 course provider.

Risk assessment and mitigation strategiesStill have questions? Contact us by phone on 0207 148 5985, via live chat, email, or by completing the form below.

Successful risk managementHow to find us includes:Knowledge TrainThe technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.

  • Identifying potential risks 20 Old Bailey, London, EC4M 7AN,
  • Determining their likelihood and impact England, United Kingdom.
  • Developing mitigation strategies for the highest priority risksCall
  • Continuously monitoring and updating the risk assessments throughout the project.+44 (0)207 148 5985

Change management planningOpening hoursPreferences

Change managementMonday to Friday – 09:00 to 17:15 planning should include establishing a process for proposing and approving changes to the project scope, schedule, or budget, defining roles and responsibilities in the change management process, establishing criteria for evaluating the impact of proposed changes, and creating a system for documenting and communicating approved changes.Get in touch

By carefully considering each of these aspects during the planning phase, project managers can set the stage for a successful project execution and delivery.

3. Project execution Preferences

This is the stage where planning turns into action. The work must be supervised and managed at this point in time.

Implementing the project plan

Executing the project planName involves:

  • Delegate tasks to team members based on their skills and availability
  • Ensure they have the resources they need to complete their tasksPhone
  • Track progress against the schedule The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
  • Resolve issues as they occur.

Managing team workflowsEmail

Efficient workflow management is crucial for maintaining productivity. Consider the following strategies:SubmitStatistics

Monitoring and controlling involves keeping a check on all activities that are being executed to ensure that they are following the project plan.{title}

Tracking progress against goals{title}[email protected]

Effective Manage Consent Copyright © 2005-2026 Knowledge Train Limited. progress tracking Registered in UK: 5566983. involves:To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions. Registered VAT: GB872413526.

  • Regularly compare actual performance to planned objectives Knowledge Train
  • Identify variances and their causes ®
  • Take corrective action to address any deviations from the plan is a registered trademark of Knowledge Train Limited.
  • Update stakeholders on the project’s status and any major changes. 20 Old Bailey, London, EC4M 7AN, England, United Kingdom.

Establishing Critical Success Factors (CSF) and Key Performance Indicators (KPI)Functional Knowledge Train are experts in project management, PRINCE2, agile and change management training and certification. Choose from a full range of instructor-led and self-paced

CSFs project management courses and , a KPIs PRINCE2 course are essential for measuring project success: , or an

MetricFunctionalagile project management courseDescription to boost your career.
CSFs Always active PRINCE2High-level goals that must be achieved for project success ®
KPIs , MSPQuantifiable measurements that indicate progress towards CSFs ®

You can follow these best practices to implement effective progress tracking strategies; first, you must identify CSFs that are aligned with your project goals. Once you have identified CSFs develop KPIs for each CSF that can effectively track the progress towards them and periodically review and update your KPIs as the project progresses. , ITIL

Managing budget and resources ®

To manage budget and resources effectively, it is important to track spending against budget, monitor resource allocation to ensure they are being used efficiently, identify potential resource bottlenecks or shortages early on and implement cost-saving measures where necessary. , P3O

Adjusting plans as necessaryThe technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.®

Project plans may need to be adjusted to overcome unforeseen obstacles, to do this effectively, regularly review the project to identify areas that may need to be changed, evaluate the potential impact of proposed changes on the project scope, timeline and budget, communicate any changes to all relevant stakeholders and update project documentation to reflect approved changes. , PRINCE2

By carefully monitoring and controlling these aspects, project managers can ensure their projects stay on track and adapt to changes as needed. ®

5. Project closing Agile, RESILIA

Project closing is the phase that formally completes the ®projectPreferences, and the Swirl logo are registered trademarks of the PeopleCert group. Used under licence from PeopleCert. All rights reserved. AgilePM. It’s when you finalise project deliverables, review performance, and document learnings for future reference. ®

Delivering final project outcomes and AgileBA

Final delivery ® involves:Preferences are registered trademarks of Agile Business Consortium Limited. All rights reserved. The APMG International AgilePM and Swirl Device logo, APMG International AgileBA and Swirl Device Logo, APMG International Change Management and APMG International Better Business Cases and Swirl Device logo are trademarks of The APM Group Limited, used under permission of The APM Group Limited. All rights reserved. Better Business Cases™ is a trademark of Her Majesty’s Treasury. All rights reserved. DevOps Foundation

  • Validating that all project deliverables meet the agreed-upon specifications ®
  • Seeking formal acceptance from stakeholders is a registered mark of the DevOps Institute. “PMI”, “PMBOK
  • Transferring project outputs to the relevant teams or clients ®
  • Closing any remaining contracts or agreements. Guide”, “PMP” and “CAPM” are registered marks of Project Management Institute, Inc. Knowledge Train Scrum Essentials™, Business Learning Library (BLL)™, Business Analysis Learning Library (BALL)™, Agile Learning Library (ALL)™, IT Learning Library (ITLL)™, and Compliance Learning Library (CLL)™ are trademarks of Knowledge Train Limited. All rights reserved.

Conducting project review meetings Knowledge Train Ltd is an Introducer Appointed Representative of NewDay Cards Ltd for the Newpay finance product provided by NewDay Ltd. NewDay Cards Ltd acts as a credit broker, not a lender. We will introduce you exclusively to Newpay finance products provided by NewDay Limited under this Introducer Appointed Representative arrangement. Finance available from other lenders is not covered by this arrangement. NewDay Ltd and Newday Cards Ltd are authorised and regulated by the Financial Conduct Authority (ref nos 690292 and 682417 respectively).

Project review meetings allow you to assess how well the project has performed:The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.

  • Convene all key stakeholders to review the project’s outcomes
  • Assess the project’s success against the initial goals
  • Identify areas of excellence and opportunities for improvement Search
  • Seek feedback from team members and stakeholders.

Documenting lessons learntStatistics

Capturing lessons learnt

Project management phases infographic

Includes Foundation & Practitioner combined option. PRINCE2 ®
Scrum Scrum Essentials Self-paced training course to learn the essentials of Scrum. Scrum Master