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PRINCE2™ - The Facts
As mentioned in the title, PRINCE2™ – The Facts covers the background history behind the name, methods and approached used to develop the best practice in Project Management. Designed by the UK government, PRINCE2™ is aimed at creating a standard or manual guide for managing projects successfully. The name PRINCE2™ stands for “Project IN Controlled Environments”, is a Trade Mark of the Office of Government Commerce, registered in the United States Patent and Trademark Office. The structure methods explain the key elements required to produce an effective management, which helps avoid most common mistake and effect of a failed project. PRINCE2™ was initiated on the 1st October 1996 and has been subsequently revised and updated in 1998 and 2002. The writers explained that PRINCE2™ is a management environment that is created for the purpose of delivering one or more business products according to a specified Business Case. Three fundamental themes ‘Managing Environment’, ‘Business Products’ and ‘Business Case’ is required to describe PRINCE2™ definition of a project. In order for the project to be successful, it is important that an effective organization structure have direction, management, control and communication. PRINCE2™ provides these characteristics with the flexibility to implement the format to any project environment. The methods used are repeatable, teachable, identifies what to expect when problems arise and most of all provides organization with a controlled management of change ensuring that the product(s) meets the organizational requirements.
Harpham, A., Williams, G. (2005, June) PRINCE2 - The Facts. Retrieved from The APM Group Limited: www.apmgroup.co.uk