What is PRINCE2?

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What is PRINCE2?

Training » Classroom » Project Management » PRINCE2 » What is PRINCE2?

WHAT IS PRINCE2?

PRINCE2 stands for PRojects IN Controlled Environments and was first created by the CCTA – Central Computer and Telecommunications Agency – in 1989.

PRINCE2 is based on best practices and is a process-oriented and scalable method for giving projects a structured framework. With the process model, PRINCE2 gives the members of a project correct recommendations for action for each project phase.

The constant development of this project management method has made it very applicable in all service organisations. This has enabled PRINCE2 to establish itself globally and become one of the most widespread methods that also is the basis for official certifications.

The PRINCE2 method contains four basic elements: Basic principles, themes, processes and a description of its possible adaptation to different project environments. A PRINCE2 project is divided into controllable phases, in order to, for example, assess the project's progression at the end of each phase and to be able to make a directional intervention, if necessary. This ensures that a project leads to the desired outcomes through controlled, well-organised and visible activities.

The most important aspects of PRINCE2:

  • The method is process-oriented and based on a business-related justification, the so called business case.
  • It includes a defined organisational structure for the project management team.
  • The method contains a product-oriented planning approach.
  • The method emphasises the division of projects into dirigible and controllable phases.
  • The method is flexible and can be applied in all environments and for every project type.

The advantages of PRINCE2:

Through a controlled utilisation, PRINCE2 offers the possibility to govern business and project risks more effectively, and thus advantages for the manager, project members and organisations. PRINCE2 is a best practice, a commonly recognised method, and provides a common language for all people involved in a project. The following points are ensured by using PRINCE2:

  • a controlled start, a controlled project progress, a controlled project conclusion
  • a focus on permanently supervising the effort and the risks
  • a defined organisational structure
  • flexible decision-making points
  • regular and scheduled progress control
  • automatic correction possibility for the management when a deviation from the plan occurs
  • management and project member commitment at the right time and to the right topics
  • good communication channels between project leaders and the organisation within the company

According to the management by exception method, the management of the company, the persons responsible and the sponsors of the project are aware of the project status at all times without having to participate in time-consuming meetings. There are many good project management methods, but especially in IT projects it is very useful that ITIL and PRINCE2 have common roots.


What is PRINCE2?

In this explanatory video you will learn what the project management method PRINCE2 is basically and how to learn it.