What is PRINCE2®?
PRINCE2 is a globally recognized and practiced project management method. PRINCE2 Best Practices combine controlled project processes and regular progress monitoring with flexible decision-making moments and a clear organizational structure. Thus, the method provides a process-oriented, product-related and scalable framework for effective project management.
PRINCE stands for "Projects in Controlled Environments", as the standard was called when it was created in 1989 at the Central Computer and Telecommunications Agency (CCTA) in Great Britain. PRINCE2, on the other hand, is known as the generally applicable derivative of the originally IT-specific approach. Today, the rights to the trademark are held by AXELOS, a joint venture between the CAPITA Group and the Cabinet Office.
Thanks to continuous further development, the framework is highly applicable in all service organizations. As a result, PRINCE2 has become established worldwide and has risen to become one of the most widely used project management methods of all: Today, more than one million people hold a PRINCE2 certification.
Controllable, precise, practice-oriented: The basic elements of PRINCE2
PRINCE2 contains four basic elements: seven principles, topics and processes each, as well as a description of how they can be adapted to different project environments. A PRINCE2 project is divided into controllable phases. In this way, the progress of the project can be precisely assessed at the end of each phase in order to be able to intervene in a controlling manner in good time if necessary. In this way, the project's path leads to the desired results via controllable, well-organized and transparent contributions. The process model also provides team members with concrete recommendations for action at any time for the respective project phase.
The project's management and clients are also involved to a meaningful extent. According to the "Management by Exception" method, they are informed about the project status at all times without having to participate in time-consuming meetings.
Simply royal: PRINCE2 and its development
PRINCE2 has particular advantages for IT projects, as the method comes from the same pen as the globally recognized ITIL framework. But PRINCE2 can be used in a wide range of business areas, can be applied to all kinds of project types, and can even make the leap into the agile world if required.
In itself, PRINCE2 is considered versatile and adaptable. In the PRINCE2 Agile variant, it forms the ideal bridge to combine controllable and clear project design with the flexibility and speed of agile environments.
Continuous further development guarantees that the method remains up to date in our modern, changeable working world. PRINCE2 was already comprehensively revised in 2017, and now the next new edition will follow in fall 2023 with PRINCE2 7. As with previous editions, user feedback has also been incorporated this time. People management, agility, sustainability and digital data now play a more central role. As a result, PRINCE2 remains relevant in the 21st century - without losing its core elements, which are based on decades of project management experience.
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