Browse Definitions:
Definition

PRINCE2

Contributor(s): Scott Spence

PRINCE2 is a project management methodology developed by the government of the United Kingdom (UK) and used internationally, especially in information technology (IT) environments. PRINCE2 makes use of the best proven practices from a variety of industries and backgrounds. Documents with templates and clear decision points are characteristics of this methodology. There are two exam-based levels of certification for individuals: Foundation and Practitioner. 

PRINCE2 outlines eight processes, which can be summarized as follows. 

  • Startup: The decision-makers gather and appoint a Project Manager. Together, these people all define the need for the project and outline the processes by which it is to be executed.
  • Direction: A Project Board is responsible for the overall success of the project, but an individual called the Project Manager, who reports to the Project Board, is charged with the responsibility of managing the details.
  • Initiation: The Project Manager prepares a Project Initiation Document. This document is submitted to the Project Board for approval. If it is not approved, it is returned to the Project Manager for revision.
  • Stage control: The project is broken down into manageable stages, the number of which depends on the project size and risk level. Each stage contains plans for the succeeding stage. Before a new stage can be begun, the current stage must be fully executed.
  • Stage boundary management: The current stage is reviewed, and the process for the next stage is developed. The project can continue only after the Project Board has approved the execution of the current stage and the plan for the next stage.
  • Planning: This includes decisions as to what products will be produced, the activities that will be required to produce the products, estimates of the cost, time, and other resources that will be necessary, risk analysis, activity scheduling, and process streamlining.
  • Product delivery management: The Project Manager must make sure that the right products are produced according to the planned schedule.
  • Closing: After the project has been completed, the Project Manager conducts a Post Project Review, which is an evaluation of the project's outcome. Once this document has been approved by the Project Board, the project is closed down.
This was last updated in January 2006

Continue Reading About PRINCE2

Join the conversation

1 comment

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

This is a free introduction course to PRINCE2 by Frank Turley:
http://mplaza.pm/product/introduction-prince2-online-course/
Cancel

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • internal audit (IA)

    An internal audit (IA) is an organizational initiative to monitor and analyze its own business operations in order to determine ...

  • pure risk (absolute risk)

    Pure risk, also called absolute risk, is a category of threat that is beyond human control and has only one possible outcome if ...

  • risk assessment

    Risk assessment is the identification of hazards that could negatively impact an organization's ability to conduct business.

SearchSecurity

  • phishing

    Phishing is a form of fraud in which an attacker masquerades as a reputable entity or person in email or other communication ...

  • vulnerability disclosure

    Vulnerability disclosure is the practice of publishing information about a computer security problem, and a type of policy that ...

  • incident response

    Incident response is an organized approach to addressing and managing the aftermath of a security breach or cyberattack, also ...

SearchHealthIT

SearchDisasterRecovery

  • business continuity and disaster recovery (BCDR)

    Business continuity and disaster recovery (BCDR) are closely related practices that describe an organization's preparation for ...

  • business continuity plan (BCP)

    A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue ...

  • call tree

    A call tree -- sometimes referred to as a phone tree -- is a telecommunications chain for notifying specific individuals of an ...

SearchStorage

  • flash memory

    Flash memory, also known as flash storage, is a type of nonvolatile memory that erases data in units called blocks.

  • NAND flash memory

    NAND flash memory is a type of nonvolatile storage technology that does not require power to retain data.

  • NOR flash memory

    NOR flash memory is one of two types of nonvolatile storage technologies.

SearchSolidStateStorage

  • hybrid hard disk drive (HDD)

    A hybrid hard disk drive is an electromechanical spinning hard disk that contains some amount of NAND Flash memory.

Close