PRiSM™ is the only approach in the world providing integrated tools and procedures supporting sustainable project management.
PRiSM™ (Projects integrating Sustainable Methods) is a standardized approach that combines sustainable development principles with generally accepted project management practices. It provides not only tools but also procedures supporting management and achieving business goals. Effectively reduces the risk at the project level from an environmental, social, and economic perspective. It may be used in any sector and organization.
Many elements of the PRiSM™ methodology are reflected in the traditional approaches to project management. The key differentiating factors are at the features characteristic only for this methodology:
- PRiSM™ goes beyond the typical project life cycle model to maximize the value by focusing on the entire asset lifecycle. The five-step approach includes pre-project planning, product/service adoption, integration, and benefits realization.
- The business case is prepared in the pre-project planning phase. The business case must contain information on how the project supports the funding organization/sponsor’s strategy. Therefore, the information contained in this document should be sufficient to make a positive decision regarding the financing of the project.
- In the initiation phase, it is also necessary to perform an impact analysis under P5 Standard. Based on this document’s conclusions, it is possible to plan the steps shared with the project team to reduce the negative impact of the project in the context of sustainable development, and increase the benefits of its implementation.
- A Sustainability Management Plan (SMP) is prepared for each project. It takes into account how the project team plans to balance conflicts of needs – business, environmental, and social responsibility.
- The project success criteria in the PRiSM™ methodology differ from those in traditional approaches. Much attention is paid to the fact that each project is different, and for each stakeholder, success also means something different. Rather than asking, “Was this project a success?”, the manager of a sustainable project will ask, “How successful was this project in every aspect considered?” One of the conditions for success is the achievement of the SDGs during the project.
- According to the authors of the PRiSM™ methodology, sustainable development begins with a system of values and a principle-based approach to doing business. Institutions should operate in such a way as to fulfill at least essential obligations in the field of human rights, labor, environmental protection, and anti-corruption. Another element differentiating PRiSM™ from other approaches is the six principles of delivering sustainable changes.
|Commitment and Accountability||Recognize the essential rights of all to healthy, clean, and safe environment, equal opportunity, fair remuneration, ethical procurement, and adherence to the rule of law.|
|Ethics and Decision Making||Support organizational ethics and decision making with respect for universal principles through identification, mitigation, and the prevention of adverse short-and-long-term impacts on society and the environment.|
|Integrated and Transparent||Foster the interdependence of economic development, social integrity, and environmental protection in all aspects of governance, practice, and reporting.|
|Principles and Values Based||Conserve and enhance our natural resource base, by improving the ways in which we develop and use technologies and resources.|
|Social and Ecological Equity||Assess human vulnerability in ecologically sensitive areas and centers of population through demographic dynamics.|
|Economic Prosperity||Adhere to fiscal strategies, objectives, and targets that balance the needs of stakeholders, including immediate needs and those of future generations.|