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Information Project Governance PRINCE2®

PRINCE2 Project Management

 

PRINCE2® (Projects in Controlled Environments), is a project management method that deals with the organisation, management and control of projects.

On this page you will find information on the PRINCE2 method, the relevant publications, PRINCE2 training courses and e-learning, and other associated programme, portfolio and risk management methods.


Key Benefits of PRINCE2

  • Helps organisations deliver projects on time and on budget.
  • Increased ROI on projects.
  • Enables business change and continual improvement.
  • Is customer focused meaning it will help you to deliver what the business actually needs.
  • Helps organisations manage risks in line with their risk appetite.

The predecessor of PRINCE2, PRINCE, was developed for IT projects. With the evolution of the PRINCE2 method, PRINCE2 has been broadened in scope and is widely applicable to all manners of type and size of project.



PRINCE2 Publications

As an official distributor of AXELOS® publications for TSO, and as we work with many global publishers, we are able to offer a world-class selection of PRINCE2 and related products in our online webshop.

The webshop includes all the key PRINCE2 texts, including:

  • The PRINCE2 manual: The core PRINCE2 manual for the 2009 edition of the method.
  • Passing the PRINCE2 Exams: The official study resource for anyone taking a PRINCE2 Foundation or Practitioner exam.
  • Illustrating PRINCE2: A guide that explains with practical illustrations how to employ the PRINCE2 method.
  • The Concise PRINCE2: A concise guide to the PRINCE2 method written by the former chief examiner of PRINCE2, Colin Bentley.



PRINCE2 - The Method

The PRINCE2 method integrates four different elements to form a comprehensive framework for managing and delivering projects. The four elements are:

Principles:- These guiding principles and best practices determine whether a project is being managed using PRINCE2. In total there are seven principles and if all of them are not being met the project in question is not a genuine PRINCE2 project.

Themes:- There are seven themes in PRINCE2 that need to be continually addressed in parallel throughout a project. The themes describe how certain project management disciplines require treatment by PRINCE2 and why they are necessary.

Processes:- There are seven processes in PRINCE2. These are all described in detail in the official PRINCE2 manual. The processes are:-

  • Starting up a project: preparing a project brief, assigning roles, defining the approach, and planning the next stage.
  • Initiating a project: planning a project, project controls, business case, project initiation document.
  • Directing a project: authorising a project, project direction and project closure.
  • Controlling a stage: authorising work to be undertaken and its completion, assessing and reviewing progress.
  • Managing stage boundaries: planning the stages of the project, updating the project plan, business case and risk assessment, creation of an exception plan.
  • Managing product delivery: delivering a work package to agreed requirements.
  • Closing a project: Executing a controlled close to the project.

Tailoring PRINCE2 to the Project Environment:- This element deals with tailoring PRINCE2 to the project environment.


 

PRINCE2 Accreditation, Training and Distance Learning

AXELOS, the owner of the methodology, runs the accreditation scheme for PRINCE2 professional qualifications through examination institutes. There are currently three levels of PRINCE2 qualification:

  • PRINCE2 Foundation
  • PRINCE2 Practitioner
  • PRINCE2 Professional

In order to become a PRINCE2 Practitioner, you need to pass the Foundation exam followed by the Practitioner exam. All PRINCE2 Practitioners are required to re-register their qualification within a three to five year window by sitting the PRINCE2 Re-Registration exam.

Introduced in January 2012, the PRINCE2 Professional qualification is for those PRINCE2 Practitioners who wish to demonstrate their expertise in the PRINCE2 method. It is not an exam-based qualification; instead you attend a 2½ day residential assessment where your ability to manage a non-complex PRINCE2 project is assessed against 19 performance criteria.



Global Best Practice PPM Suite

As well as the PRINCE2 project management methodology, AXELOS has also produced a number of other best practice frameworks that mesh together to offer a complete suite of best practices for the management of portfolios, programmes and projects.

The methodologies in this suite all use a consistent terminology and follow the latest in international best practice. The methodologies in this suite are as follows:



Managing Successful Programmes (MSP)

Managing Successful Programmes is a programme management methodology. The current version of MSP is the 2011 edition, MSP allows a portfolio of projects to be managed in a way that is aligned with the PRINCE2 guidance and that is considered best practice.

Find out more about the MSP methodology and buy the MSP manual.



Management of Risk (M_o_R)

Management of Risk provides a generic best practice framework for the management of any type of risk. Find out more about M_o_R and explore the whole discipline of risk management. M_o_R has been traditionally employed in PRINCE2 projects.



Management of Value (MoV)

MoV provides a best practice framework for the realisation of value in portfolios, programmes and projects. MoV offers universally-applicable guidance on how to maximise value in a way that takes account of:

  • an organisation's priorities;
  • differing stakeholder needs;
  • the use of resources as efficiently and effectively as possible.



Management of Portfolios (MoP)

MoP is a framework for the effective management of a portfolio of projects and programmes. It has been designed to be used with the other PPM methodologies in the AXELOS stable.



Portfolio, Programme and Project Offices (P3O)

The P3O methodology offers a framework that will enable you to bring together in one place a set of principles, processes and techniques to run a portfolio, programme and project office.
 

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