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.

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

SearchCompliance

  • risk assessment

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

  • PCI DSS (Payment Card Industry Data Security Standard)

    The Payment Card Industry Data Security Standard (PCI DSS) is a widely accepted set of policies and procedures intended to ...

  • risk management

    Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings.

SearchSecurity

SearchHealthIT

SearchDisasterRecovery

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

  • cloud disaster recovery (cloud DR)

    Cloud disaster recovery (cloud DR) is a combination of strategies and services intended to back up data, applications and other ...

SearchStorage

Close