What is PRINCE2?
PRINCE2 stands for PRojects IN Controlled Environments is a project management methodology covering the organization, management and control of projects. PRINCE was first developed by CCTA (Central Computer and Telecommunications Agency) in 1989 as a UK Government standard for Information Technology Project Management and its major revision – PRINCE2 – was released in 1996 as a generic project management method.
The most current revision was released in 2009 as part of the Prince2:2009 refresh project by the Office of Government Commerce.
Key Features of PRINCE2
- Focus on results rather than activities performed – typical business intelligence in practice.
- A defined structure for project management team.
- Product based planning approach.
- Makes use of a proven English methodology – divide and rule. Emphasis on division of the project in controllable and manageable stages.
- Flexible.
Benefits of PRINCE2
- Controlled and organized opening, middle and end game!
- Inspect what you expect. Regular progress-reviews against plans.
- Flexible business decision points.
- Makes use of “management by exception” concept.
- Automatic management control of any deviations from the plan.
- High involvement of management stakeholders at the right time.
- Good communication channels between the project, project management and rest of the organization.
- Improved level of customer satisfaction due to process based approach.
Major PRINCE2 Processes:
PRINCE2 2009 defines 40 separate activities and organizes these into 7 processes. Here is the list of the 7 processes:
- SU: Starting up a project
- IP: Initiating a project
- DP: Directing a project
- CS: Controlling a Stage
- MP: Managing Product Delivery
- SB: Managing Stage Boundaries
- CP: Closing a Project
Web Resources:
PRINCE2™ is a trademark of the Office of Government Commerce. It is used by many organizations across the world; both large and small. Some of them includes Barclays, British Government Departments, Vodafone, HSBC etc.
If you are dealing with any project which (by any means) relates with the UK, knowledge of PRINCE2 methodology will definitely give you an edge.
See Also:
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