Processes within PRINCE2 are designed to adapt to projects of any size and take you from planning the project to delivering its products:
The PRINCE2 method is easy to learn and embodies established and proven best practice from a wide cross-section of organizations who have contributed to its evolution since the 1980s. By adopting PRINCE2 as your project management method, businesses can benefit from lessons learned by other organizations over the last few decades.
The seven principles are as follows:
Business justification A PRINCE2 project must at any time have continued business justification
Learn from experience Within a PRINCE2 project, time and moments need to be created for the acquisition, recording and transmission of experiences (lessons are sought, recorded and acted upon throughout the life of the project)
Roles and ResponsibilitiesA PRINCE2 project has defined and agreed roles and responsibilities with an organization structure that engages the business, user and supplier stakeholder interests.
Manage by Stages A PRINCE2 project must be, for each stage, planned, monitored and controlled.
Manage by exception A PRINCE2 project has defined tolerances for each project objective as also established ground rules on delegated authority.
Focus on products A PRINCE2 project must address proper definition and delivery of products as in particular its quality.
Tailor to suit the environment The PRINCE2 methodology should be tailored to suit the project’s size, environment, complexity, importance, capability and risks.
The PRINCE2 methodology can be shown by the following diagram