PRINCE2® (or, PR oject IN C ontrolled E nvironments v 2 ), owned by AXELOS Ltd., is in simple words, and in complex, a project manageme...

PRINCE2® (or, PRoject IN Controlled Environments v2), owned by AXELOS Ltd., is in simple words, and in complex, a project management methodology that promotes efficient processes when it comes to quality management and planning and control of a project within an organization, in order to achieve the goals and objectives of that particular project. For people who are keen on putting this methodology into practice, they have by their side the PRINCE2 certification program that takes care of training professionals through qualifying them in this methodology.
The core of PRINCE2 emphasizes on breaking the project down into easily manageable sections that can be looked into with great detail and can as sure success to the project if followed to the T. PRINCE2 looks at process-driven project management through the eyes of 4 elements that are bound together to make an all-encompassing project management unit. These 4 elements include:
- 7 Processes
- 7 Principles
- 7 Themes
- A Project Environment
PRINCE2 was originally derived from a project management methodology called PROMPT II (Project Resource Organization Management Planning Techniques). Right from its PROMPT days as "PROMPT II INthe CCTA ENVIRONMENT" through till being adopted by the UK Government to become a standard for IT systems project management and getting the acronym "PRoject IN Controlled Environ ments", PRINCE2 has become the de facto standard in the world of project management not only in the UK Governmental offices but also the entire UN system along with your own project management career.
7 Processes
Built on the foundation of simple project management, PRINCE2 looks at the following 7 processes within which the entire methodology lies and the project's life cycle is determined. These are as follows:
- Starting a Project
- Initiating the Project
- Directing the Project
- Controlling a Stage of the Project
- Managing the Product Delivery
- Managing the Stage Boundaries
- Closing the Project
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