PRINCE2 Methodology Overview • Project Management Methodology

PRINCE2, PRojects IN Controlled Environments (version 2) is a generic project management methodology that describes the key elements for controlling a project, regardless of project type or size.

Some main advantages of applying PRINCE2 Methodology include:

Proven management practices to facilitate the controlled start, execution and closure of a project
A standard project management methodology that supports both inexperienced and experienced project teams
Drives continuous learning and improvement in project management
Improved transparency and project governance

Today, thousands of organisations have adopted PRINCE2 or a tailored version as their standard for project management.

Overview

The PRINCE2 as a best practice framework, its Methodology comprises of 4 project management elements referred to as Principles, Themes, Processes and Project Environment.

PRINCE2 Principles

There are seven core principles on which PRINCE2 is based on:

Continued business justification
Learn from experience
Defined roles and responsibilities
Manage by stages
Management by exception
Focus on products
Tailor to suit the project

The PRINCE2 processes and management themes are designed to ensure these principles are applied throughout the life of a project.

PRINCE2 Themes

There are seven management themes described by PRINCE2, which is seen as relevant for all projects. The management themes outline project management activities, documents, roles and responsibilities that support the application of the principles mentioned above.

The management themes include:

Business Case – defining an approach for the continued justification of a project
Organization – providing a model for establishing a project management team
Risk – details a procedure for risk management
Quality – outlines an approach for delivering ‘fit for purpose’ project products
Plans – defines a process for planning at the project, stage and team levels
Change – details an approach for controlling changes to the project and its products
Progress – outlines monitoring, reporting and review mechanisms to control the development of a project

PRINCE2 Processes

At the centre of the PRINCE2 model is a series of project management processes that detail the activities and responsibilities that relate to the application of the principles mentioned above and themes. These methods provide an order in which the principles and themes should be applied during each phase of a project.

The PRINCE2 Methodology diagram is shown as below:

In summary, many project management standards are designed to explain ‘what’ project management is, but often do not provide a comprehensive approach illustrating how to apply project management.

PRINCE2 focuses on how and when important elements of project management should be applied and who is responsible for these elements. This is why PRINCE2 describes itself as a project management methodology and a core reason why today thousands of organisations have adopted PRINCE2 and over 1 million people worldwide hold a PRINCE2 qualification.

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PRINCE2 Methodology