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Use free communication to reduce your risk spend in a PRINCE2 Agile environment

Why you spend lesser on risks with PRINCE2 Agile

Blog   |    31st August 2021   |   Rupali

Introduction

How do you create a product in the face of risk? While you do that, could you save a good portion of the risk budget? The answer is yes ! The key lies in being truly agile with risk. This blogpost will tell you how.

Key takeaways:

  • A product is what you put into it.
  • That truly shapes a product.
  • Risk affects what you can put into a product.
  • It is important to single out risks while you are managing the project.
  • PRINCE2 Agile helps you with just that.
  • Courses that can help you when you are undertaking PRINCE2 Agile projects.

Significant savings with PRINCE2 Agile

A product is what you put into it. That shapes up a product throughout the various versions of itself. Risks affect what you can put into a product. It is important to single out risks before they all snowball, thus taking up a bigger chunk of your project's risk budget. PRINCE2 Agile helps you single out risks on the go, thus your teams spend lesser time and money dealing with risk.

An Example

Suppose you are a project manager with an active PRINCE2 Agile project. You are creating a product. In the first timebox that occurs during the project, you are talking to a team manager who tells you that the product requires a part which is not easily found in the market. You get in touch with your senior supplier who confirms the fact that only two manufacturers supply that part to the market. You and the project executive arrange a zoom meeting with one of the manufacturer's senior leadership after contacting their website. The part is arranged for, after a relationship is forged between the two companies. All of this was possible because of the frequent collaboration you did with your teams and their managers. The team manager first spoke to you about the uncertainty in obtaining that part. That is how you singled out the risk and acted accordingly. In a PRINCE2 Agile environment, it is important to communicate well and frequently. That is how you catch hold of risks good and early. Knowlathon has been for long, a provider of PRINCE2 trainings. Not only do you attend a training, but also you can validate your skills by sitting a certification exam. You then get a PRINCE 2 certificate. We have several options for you: the PRINCE2 Foundation, PRINCE2 Practitioner, and also a blended course:PRINCE2 Foundation and Practitioner. If you just want to know the basic tenets of PRINCE2, you may opt for the PRINCE2 Foundation. If you want to lead projects actively, you may take the PRINCE2 Practitioner course. Save yourself the time by doing a three day blended PRINCE2 course. Newer ways of software development led to Agile practices being widely popular. Given how immensely popular Agile is when resources are strained during times like these, PRINCE2 Agile was written for those who want to speed up development and creation of products. Now, for you, we have the PRINCE2 Agile route. Consisting of the same course types as PRINCE2, we must say our three day PRINCE2 Agile Foundation and Practitioner course is well sought after.

Check out our range of PRINCE2 courses