Key Components of PRINCE2®
PRINCE2® is built on seven key components:
Seven Principles:
- Continued Business Justification: Every project must have a justifiable reason for its start and continued existence.
- Learn from Experience: Project teams should continually seek out lessons from previous projects and apply them.
- Defined Roles and Responsibilities: Everyone involved in a project should understand their roles and what is expected of them.
- Manage by Stages: Projects should be planned, monitored, and controlled on a stage-by-stage basis.
- Manage by Exception: Projects should be managed with clear tolerances for time, cost, scope, and quality, allowing for efficient escalation if issues arise.
- Focus on Products: Projects should focus on delivering the agreed-upon products with specified quality.
- Tailor to suit the Project Environment: PRINCE2® should be tailored to fit the project’s environment, size, complexity, and risk level.
Seven Themes:
- Business Case: The justification for the project’s existence, continually updated throughout the project.
- Organization: Defines the structure of the project management team.
- Quality: Establishes quality requirements and how they will be met.
- Plans: Lays out the steps needed to deliver the project’s objectives.
- Risk: Identifies, assesses, and manages risks to the project’s success.
- Change: Manages changes to the project scope and products.
- Progress: Monitors and controls the project’s progress.
Seven Processes:
- Starting Up a Project: Ensures that the prerequisites for initiating a project are in place.
- Initiating a Project: Establishes a firm foundation for the project’s management and delivery.
- Directing a Project: Provides overall direction and decision-making for the project.
- Controlling a Stage: Manages and controls the project’s progress on a stage-by-stage basis.
- Managing Product Delivery: Ensures that products are created and delivered to the agreed-upon standards.
- Managing a Stage Boundary: Manages the transition between project stages.
- Closing a Project: Ensures that the project is closed in a controlled manner, handing over deliverables and assessing overall project performance.