Prince2 Principles [better] -
Unlike the specific steps of a process, these principles are universal, self-validating, and empowering. They ensure that the methodology is applied effectively, regardless of the project's size, industry, or complexity. 1. Continued Business Justification
This is the primary document used to justify the investment. It is updated at the end of every stage to ensure the project still offers a return on investment.
By following these seven principles, organizations can ensure that their projects are well-managed, controlled, and likely to succeed. The PRINCE2 methodology provides a flexible and adaptable framework that can be applied to a wide range of projects, from small and simple to large and complex. prince2 principles
PRINCE2 (Projects IN Controlled Environments) is a widely adopted project management methodology that emphasizes structure, governance, and control. At its core, PRINCE2 is built around seven principles that provide a framework for successful project management. These principles are:
| Principle | Core Question It Answers | What Happens If Ignored | | :--- | :--- | :--- | | | Why are we still doing this? | Wasted resources on a project that no longer adds value. | | Learn from Experience | What have we learned? | Repeating costly, preventable mistakes. | | Defined Roles & Responsibilities | Who decides, who does, who advises? | Confusion, blame-shifting, lack of accountability. | | Manage by Stages | What are we doing now vs. later? | Loss of control, inability to redirect or cancel at key points. | | Manage by Exception | Who decides when a problem is serious? | Micro-management (board too involved) or runaway failure (manager too free). | | Focus on Products | What exactly are we building? | "Activity creep" – doing tasks that don’t produce a useful deliverable. | | Tailor to Suit | How do we apply this method appropriately? | Overly bureaucratic (slow, expensive) or insufficient control (chaotic). | Unlike the specific steps of a process, these
If the justification disappears (e.g., market conditions change), the project should be stopped or changed; continuing for the sake of finishing is a failure of this principle. 2. Learn from Experience
PRINCE2 teams do not reinvent the wheel. They use lessons from previous projects to avoid past mistakes and replicate past successes. The PRINCE2 methodology provides a flexible and adaptable
A project must make good business sense. This means there must be a documented, clear reason to start the project, and that reason must remain valid throughout its entire lifecycle.
