An Introduction to the PRINCE2® Project Management Methodology

An Introduction to the PRINCE2® Project Management Methodology

What is PRINCE2?

PRINCE2 is an acronym for PRojects IN Controlled Environments and the "2" refers to its relaunch in October 1996. It is the non-proprietary process-based project management methodology. PRINCE2 is mainly focused to establish,

• Control at the commencement.
• Progression of the project.
• Termination of projects.

Why PRINCE2?

PRINCE2 is one of the most globally accepted project management method. It can be applied to any kind of project irrespective of scale, type, geography, organization or culture.

PRINCE2 focuses on the delivery of products rather than carrying out activities. Every project must have a business case and plan that is periodically reviewed.

The PRINCE2 method is in the public domain therefore, users are not tied to any single organization for consultancy, training and support.

PRINCE2 is widely regarded as a common standard which enables projects in the public or private sector to be executed with a common understanding of the processes and terminology used.

The advantages of PRINCE2 are:

• It is a known proprietary method
• It’s not provided by or associated with the company
• It was actually created by the UK government and is administered by a couple of other companies now

You can also apply to any type of project. It's a generic method.

Key Features of PRINCE2:

• Focus on business justification.
• Defined organization structure for the project management team
• Product-based planning approach.
• Emphasis on dividing the project into manageable and controllable stages.
• The flexibility that can be applied at a level appropriate to the project.

The structure of PRINCE2 includes:

7 Principles of PRINCE2

• Continued business justification.
• Learn from experience.
• Defined roles and responsibilities.
• Manage by stages.
• Manage by exception.
• Focus on products.
• Tailor to suit the environment

7 Themes of PRINCE2

• Business case.
• Organization.
• Quality.
• Plans.
• Risk.
• Change.
• Progress.

7 Processes of PRINCE2

• Starting up a project.
• Directing a project.
• Initiating a project.
• Controlling a stage.
• Managing product delivery.
• Managing a stage boundary.
• Closing a project.

PRINCE2 is a certification programme owned by AXELOS and this method is sustained by a scheme that offers four levels of certification: PRINCE2 Foundation, PRINCE2 Practitioner, PRINCE2 Agile Foundation and PRINCE2 Agile Practitioner.

PRINCE2 Roadmap:

There are four levels of certification in PRINCE2:

PRINCE2 Foundation Certification

PRINCE2 Foundation certificate validates your fundamental knowledge on principles of PRINCE2 and terminologies used in PRINCE2.

PRINCE2 Foundation certificate can be prerequisite to PRINCE2 Practitioner course.

PRINCE2 Practitioner Certification

PRINCE2 Practitioner certificate validates your knowledge on relationships between principles, themes and processes of PRINCE2.

Once you get PRINCE2 Practitioner certified you will be able to apply PRINCE2 techniques to solve the problems associated with the running project.

PRINCE2 Agile Foundation Certification

PRINCE2 Agile foundation teaches you the fundamentals and the purpose of combining PRINCE2 with agile methodology. 

It introduces PRINCE2 governance and teaches a broad range of agile concepts and techniques. PRINCE2 Agile Foundation can be prerequisite to PRINCE2 Agile Practitioner course.

PRINCE2 Agile Practitioner Certification

PRINCE2 Agile Practitioner validates your knowledge on how to blend PRINCE2’s structure, governance and control with agile methods, techniques and approaches.

Benefits of PRINCE2 :

• PRINCE2 is a globally recognized certification which validates your knowledge on techniques of project management.
• PRINCE2 provides step by step guidance to manage the project and delivers confidence for internal and external stakeholders.
• It broadly focuses on techniques related to project management.
• Enables you to execute any kind of project with great ease.
• Highlights on both project and process.
• PRINCE2 helps you to strategize your plans more skillfully.
• It enables you to solve the problems associated with the project more effectively.
• Enhance your project management skills.
• PRINCE2 enables you to control resources and risks effectively.
• It ensures focus on the continuing sustainability of the project.

Demand for PRINCE2 Certified Professionals

PRINCE2 certification proves to be an asset as it accelerates your career in the field of project management.

A 2016 AXELOS survey questioned individuals in project management and other roles, such as IT, senior management and operations. They reported that "regardless of function, candidates do find that PRINCE2 is valuable to their career".

According to Payscale.com,

The average annual salaries for certified PRINCE2 professionals in the United States is shown below.
Currency: USD, Updated: Mon Nov 11 2019

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