PRINCE2, an acronym for Projects IN Controlled Environments, is one of the most widely used project management methodologies in the world today. This well-structured methodology makes it easier to control the entire work process. Originally developed by the UK government in 1989 for its information technology projects, it was released as a methodology for non-governmental projects in 1996. AXELOS Ltd. currently has ownership of PRINCE2.

PRINCE2 helps project managers divide projects so that each stage is more manageable and controllable, regardless of the type and scale of the project. It’s quite flexible and can be tailored according to your specific requirements. With the help of PRINCE2, you can thoroughly plan your project before you begin working on it. Every stage of the process is structured from start to finish. It also allows you to tie up any loose ends after you’ve finished the project.

Seven Principles of PRINCE2:

There are seven principles of PRINCE2 methodology that support its value and focus:

Every project must have a business justification. This means that the project has to have some value for customers, which will result in a good return on investment. It should lay out a proper cost assessment and practical benefits.

The team should learn lessons from every stage of the process, and record them to use for improving future project work. All roles and responsibilities should be defined clearly. Everyone on the team should know their place in the project and also be aware of what their teammates are doing.

The work must be planned in stages, with the project divided into individual phases. Also, you must have periodic reviews to help learn lessons for future use, track the work’s progress, and make sure deadlines and milestones are being met.

The project board has the authority to manage by exception. Board members are not usually involved in the actual work of a project; they establish the baseline requirements such as time, cost, and risk. Instead, work is delegated to the project manager, who, in turn oversees the project. Issues may arise that affect the established requirements, in which case the board members have the authority to intervene and manage the project and as they see fit.

The team must continuously be focused on quality throughout the project to achieve the best results. A quality register is used to check deliverables against requirements.

There is no one-size-fits-all approach. The PRINCE2 method has to be adjusted to suit the requirements of every individual project. This means that the size of the team, the planning, and other factors may be different.

Roles Defined Under PRINCE2 Methodology

PRINCE2 defines seven roles for any team working on a project. The defined roles ensure that all requirements are met and the work goes as planned.

The three principal roles are:

Project board Project manager Project team

Become an Effective Project Manager with PRINCE2 Certification Training

There’s a lot to be gained from learning PRINCE2, and we recommend it to all project managers. PRINCE2 functions at a higher level than other offerings, such as PMP, with a more standardized approach. It spells out the roles for every individual in your team and imbues clarity in the work process. PRINCE2 focuses on both the project and the process in a synchronized manner, making it a valuable tool in today’s corporate world. Get started today with HKR Training's PRINCE2 Certification Course, one of the most popular offerings in today’s market.

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