Prince 2 embodies years of best practice and provides users with a framework and approach for managing projects of all shapes and sizes. It’s arguable that following a tried and tested methodology cannot only help reduce risks on project delivery but can also be a considerable influence over project cost and duration.

Luckily the internet is awash with valuable resources on Prince 2 – here’s some of our favorites – if you’ve got others you’d like to share please use the comments section below.

1. OGC Prince 2 portal – everything you need to know about Prince 2 – from online articles through to templates and benefits.

2. Commercially run support site with bags of content and downloadable templates.

3. Excellent in depth case study of Prince 2 in action

4. Prince 2 Project Management Software

5. Various white papers on the difficulties with Prince 2 and how to overcome them

6. Best Management Practice - Prince 2 Resources

7. Project Management demystified

8. Andy Murray’s Prince 2 Blog

9. Prince 2 training courtesy of Youtube

Don’t forget that if your into Prince 2 – you shouldn’t be without official OGC book “Managing successful projects with Prince 2″ - this really is the bible for the method with all the tools and concepts that you’ll need to get you going check it out at Amazon here: Managing Successful Projects With Prince 2, 2005

With two of its senior management “falling on their swords” following recent difficulties it seems that the culture seems to be one of accountability however BA Boss Willie Walsh seems to be ensuring he remains in post for the foreseeable future.

Whilst the BBC report Walsh to not be out of the firing line and with him openly admitting responsibility for the companies failings with T5’s launch, Walsh faces a rough ride over the coming weeks as he in talks to shareholder groups. However with people in some corners citing continuity of management as a route out of the problem it will be interesting to see what happens – BBC has put the current cost of T5 problems down to $32 Million (£16M) in the 3 weeks since it opened

These figures come from the IMF (International Monetary Fund) who has warned that as the credit crunch seeps into other areas such as business debt, consumer credit and commercial property losses will deepen.

Now while $1 Trillion dollars is a lot of money - quite how accurate the calculation is remains to be seen however the IMF have certainly put the issue into context.

The most interesting thing about the article is its attempt to find someone to pin the blame on. The IMF report that “regulation by governments and poor supervision by banks for allowing the situation to develop.” Complacency about the risks involved has led to worldwide problems.

There seems to be little commentary about recovery plans or how long the situation will last - certainly lending is under increasing pressure with various mortgage providers around the world reducing (or in some cases completely withdrawing) products from the market).

While we’re sure this doesnt have anything to do with the reported news that Madonna sleeps with her Blackberry (http://news.bbc.co.uk/1/hi/entertainment/7327084.stm) I suppose it goes to show how much the gadget has become part of the mainstream. Indeed mobile access to email is now seen as an essential business tool and as a smart phone - the Blackberry certainly has the corporate edge.

With the strong results looking set to continue it will be interesting to see how RIM reacts if, as is expected, that the widely rumoured iPhone 2.0 features broader business tools including access to corporate mail - Blackbeery have had a strong footing in the business sector for a long time and it will be interesting to see if a strong challenger emerges within 2008.

Apple have expanded its international offering of the iPhone considerably in recent months and this goes someway to contributing towards the growth. Whilst a broader product range will also help.

It certainly seems that there’s no stopping iPhones march in terms of market share but it will be interesting to see whats around the corner for the device as the rest of the market catches up – to be sure consumers will be after more business integration with email – and higher specs (improved camera, access speed, storage space) next time around with iPhone 2.0 – and it will be interesting to see how apple develops its device.

In the meantime the iPhone continues to sell in truckloads clearly outstripping sales growth of its iPod predecessor.

Adam Applegarth, Northern Rocks ex Chief Exec will get a payoff amounting to £785K and whilst share holders have initially criticized the decision - it must be remembered that the salary and benefits in the first place.

However it does raise the question of what should happen to senior executive’s remuneration in the event of business catastrophe - is it right that huge payouts can still be made when businesses fail?

One option is for employment contracts to cover remunerations in the event of business failure and whilst that may be administerialy possible is it entirely ethical? Going back the example of Northern Rock - Shareholders have the ability to vote down or disagree with business activity and Northern Rock was open to industry regulators - is this sufficient - if businesses fail but the company has behaved as expected then surely management are entitled to their pay?

Once thing certain is that this story will rumble on and won’t be the last “senior exec receives bumper payoff” story we’ll here as the credit crisis continues to bite.

The CBI welcomed the new year stating that in 2008 profits are likely to be squeezed, and growth would be tested.

While it’s no surprise to see the continuation of some of last years news stories - its a shame to start off on a sour note. However the CBI isnt alone and 2008 looks to be a further turbulent year for businesses who face increased uncertainty and financial pressures.

1/ Love your customer
The customer is still king - There were a large number of news stories in 2007 with companies getting significant fines for showing disregard for their customers - check out BA’s huge fine for price fixing or £20M fine for Southern Water for more info. Remember that the customer keeps your company afloat and they can be a Fickle bunch

Resolution: Customer satisfaction as key business goal

2/ Grow a social conscience

2007 has also been the year where the customer is finding it’s social conscience and some firms have struggled to keep up - remember that you don’t just need policies and procedures to be ethically sound but they need to be religiously adhered to - the slightest slip could have dire social consequences and also be a PR disaster!

Resolution: Create ethical policies and procedures that are known by employees and adhered to.

3/Remember that financial markets go up and go down.

2007 was the year of sub prime (was that even a term in 2006?!?!) and financial markets that were turbulent to say the least - people lost their jobs as a result - the dollar took a battering, will 2008 be any better? Housing worries, inflation, oil prices going through the roof - could be more of the same we think!

Resolution: Ensure that the business plan takes account of different financial scenarios.

4/ Become a technology ninja

In 2007 Business continued to take advantage of IT and technology - however not everyone had good results - Social marketing took off in a big way some firms got it - and some firms didnt

Resolution: Don’t just spend $ on IT - make sure you understand it and exploit it

5/ Go Green

Business are finding that going green is not only good for the planet but is also becoming a differentiator in customers eyes. We’ve got Green cars, Green airlines, Supermarkets against shopping bags and many many more. Let’s face it environmental consumer issues are here to stay - businesses need to deal with it.

Resolution: Contribute positively to this consumer issue and leverage initiatives where appropriate.

6/ Secure your data!

2007 seems to have been the year for losing customer data. In January we had TJ Max and this was followed throughout the year by further stories - perhaps being topped in the UK with the loss of 25 Million peoples personal data and the data for 3 Million learner drivers

Resolution: Keep data safe and secure!

7/ Big companies keep growing…and growing

2007 has seen big companies get bigger and bigger – merger and acquisition has never been so popular or so sexy! It seemed everyone was getting in on it from Microsoft, Google, Yahoo, to GM, Shell and BAE. It’s hard to find a big company that didn’t gobble up a competitor last year.

Resolution: Look for acquisition targets

8/ Employees still have power

The role of the worker has been under considerable review over the last few years, with increased levels of automation and outsourcing to “cheaper” labor markets. In 2007 we saw the worker fight back through strikes, more strikes, and yet more strikes. With growing financial uncertainty in many markets workers were quick to assert their strength the best way they know how.

Resolution: Keep on the right side of workers!

9/ New Gadgets galore

Ahhhh innovation - you can’t beat it - economies are founded on it and 2007 was no exception - we had the iphone, Airbus A380, Audi R8 and a whole host more killer new products aimed at wowing customers and capturing market share.

Resolution: Encourage innovation

10/ Never too old to learn new tricks

Businesses never stand still and today’s demand for management consultancy supports this - developing business capability is one tried and tested way of enhancing value and facilitating business growth - whether from innovative takes on traditional improvement methods, to exploiting training to instilling Common sense business practice there are loads of ways to develop your business.

Resolution: Expand Training budget, encourage new capabilities

1/ A group of tasks carried out in a definable time period to meet a specific objective
2/ It has a defined start and end
3/ It has a defined scope and measurable tasks
4/ It has a budget
5/ It has resources and an organization

Projects usually have different processes and practices than usual business activity. Resources for example may be across traditional organization boundaries, commonly the project manager may not usually be responsible for the staff outside of the project.

Projects are traditionally centered around the delivery of a specific objective with project management concentrating on managing the tasks and resources.

A significant area of a project is the requirement of workscope – this defines the work that will be carried out and provides a means for the customer to review the deliverables against the original objectives at the end of the project.

Projects and project management are a key part of modern business – methodologies and routines have been established (such as Prince 2) to provide best practice frameworks – computer software and associated tools have also been developed to aide the project manager. There are many areas of project management and in later articles we’ll cover these in more detail.

The regulator claimes the company mis-represented information prior to October 2005 which resulted in poor services being delivered to customers.

By mis-representing information the company was able to benefit from price reviews and raise bills.

Southern Water claim that the fine will not be passed on to customers but will be picked up by shareholders. The company’s current management team is addressing the issues raised by the regulator and is in the process of returning money to customers that received the higher charges.

For further information the original OFWAT press release can be found Here