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PRINCE2 continues to evolve with the launch of the latest revision on 16th June. The method has been revised based on public consultation and extensive review and has evolved to address the modern project environment. This has resulted in two publications:

1. Managing Successful Projects with PRINCE2  - the evolution of the method
2. Directing Successful Projects with PRINCE2  - a new core publication for the project executive and the project board.

Projects bring together resources, skills, technology and ideas to achieve business objectives and deliver business benefits. Good project management helps to ensure that risks are identified and managed appropriately, and objectives and benefits are achieved within budget, within time and to the required quality.

PRINCE2 is recognised as a world-class international product and is the standard method for project management, not least because it embodies many years of good practice in project management and provides a flexible and adaptable approach to suit all projects. It is a project management method designed to provide a framework covering the wide variety of disciplines and activities required within a project. The focus throughout PRINCE2 is on the Business Case, which describes the rationale and business justification for the project. The Business Case drives all the project management processes, from initial project set-up through to successful finish.

Many organisations are employing the skills and services of external suppliers, working alongside in-house resources, to enhance their ability to deliver successful projects. PRINCE2 provides a mechanism to harness these resources and enable the team to integrate and work together effectively on a project.

The PRINCE2 method is documented in the OGC publication  "Managing Successful Projects with PRINCE2", readily available from the official publisher,  TSO, this is aimed at those working in the project environment and the project manager in particular. "Directing Successful Projects with PRINCE2" covers the duties and behaviors expected of the Project Board. These core books are supported by a number of complementary publications.

PRINCE2 is based on seven principles;

  • Business justification
  • Learning lessons
  • Roles and responsibilities
  • Managing by stages
  • Managing by exception
  • Product focused
  • Tailored

The approaches to deliver these principle are outlined in the 7 themes of

  • Business case
  • Organisation
  • Quality
  • Plans
  • Risks
  • Changes
  • Progress

and flow through to the underpinning processes of

  • Starting up a project
  • Directing a project
  • Initiating a project
  • Controlling a stage
  • Managing stage boundaries
  • Closing a project

PRINCE2 acts as a common language between all of customers, users and suppliers, bringing these parties together on the Project Board. And although PRINCE2 doesn't include contract management as such, it provides the necessary controls and boundaries needed for everybody to work together within the limits of any relevant contracts.  In addition, the Project Board provides support to the project manager in making key decisions.

Most important of all, PRINCE2 allows your business to focus on doing the right projects, at the right time, for the right reasons, by making the start of a project and its continued existence dependent on a valid ongoing business case.