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What is PRINCE2?
A definition of PRINCE2
PRINCE2 is a de facto process-based method for effective project management, owned by AXELOS and used extensively by the UK Government and recognized by organizations globally.
Watch the Project Portfolio Management Video
PRINCE2 (an acronym for Projects IN Controlled Environments) is a process-driven method for effective project management. Owned by AXELOS, it includes quality management, control and organization of a project with consistency and review to align with project objectives. PRINCE2 is widely recognized and used in the private sector, both in the UK and internationally.
PRINCE2 is in the public domain, and offers non-proprietorial best practice guidance on project management. The method is based on seven principles – continued business justification, manage by exception, learn from experience, defined roles and responsibilities, manage by stages, focus on products and finally, tailoring.
It also has seven principles – business case, organization, quality, plans, risk, change and progress. Ultimately, the principles and themes manifest themselves in these seven processes – starting up a project, initiating a project, directing a project, controlling a stage, managing product delivery, managing stage boundaries and closing a project.
Key features of PRINCE2 include:
- A focus on business justification
- An emphasis on diving the project into easily manageable stages
- A defined organization structure for the project management team
- Flexibility that can be applied at a level appropriate
- A product-based approach to planning
PRINCE2 addresses only high-level aspects of project management and leaves the choice of management tools and frameworks within its tasks to the task managers.
Processes, inputs, outputs and roles from PRINCE2 are built into the iServer repository for guidance and best practice reference.
Learn how PRINCE2 can help you optimize and improve your project management.
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