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PRINCE2 (PRojects IN Controlled Environments Version 2) is a principles and process based project management method and training. It defines why a project is being undertaken, who should be involved in the project, what needs to be created, when certain events need to happen and how the project will be executed.
Today PRINCE2 is the most widely used project management methodology (PRINCE2 Methodology) with over 2 million people having completed PRINCE2 courses world-wide and hold a PRINCE2 qualification.
The PRINCE2 methodology comprises of 7 management Principles, 7 management Practices and 7 management Processes. These Principles, Practices and Processes are integrated to form a proven model to control the preparation, execution and closure phases of a project. The method also includes People and Project Context elements to support its application. To learn more about the PRINCE2 Methodology visit our Frequently Asked Questions
The 7 underlying Principles that form the basis of the PRINCE2 methodology are as follows:
Esnure continued business justification – all projects must be continually justified.
Learn from experience – projects must demonstrate lessons have been captured from previous and current projects and integrated to improve the chances of success.
Defined roles, responsibilities & relationships – continued representation of users, suppliers and the business, each project team member needs to understand their role and agree to defined responsibilities.
Manage by stages – in PRINCE2 projects, project plans are broken into manageable stages that can be planned, monitored and controlled.
Manage by exception – use of management’s time efficiently whilst maintaining maximum control with tools such as end stage assessments, progress reporting and tolerances.
Focus on products – ensuring quality requirements for the project’s products are defined and agreed to, allowing improved resource estimating and activity identification.
Tailor to suit the project – no one methodology is appropriate for every project. The complexity of each project differs based on project size, commercial value and risk. Each element of
PRINCE2 should be applied according to the size, complexity, importance and risk associated with the project.
These 7 Principles are integrated throughout PRINCE2’s themes and processes.
The Practices may be described as key project management functions that need to be applied consistently throughout the life of a project. By exploring these Practices PRINCE2 outlines the relevant management aspects that need to be addressed to ensure control and successful management of the project. The 7 Practices are:
- Business Case
- Organizing
- Quality
- Plans
- Risk
- Issues
- Progress
The 7 Processes map out a logical order in which to apply PRINCE2’s Principles and Practices. Each Process provides further details on management activities, responsibilities and project management documents (known as management products) for capturing important project information.
For information on applying PRINCE2 in an agile environment, visit our PRINCE2 Agile training page.
