Prince2

Prince2
Name	PRINCE2
Abbreviation	PRINCE2
Type	Project management methodology
Originated	United Kingdom
Developer	Office of Government Commerce
First published	1996
Latest release	2017 (edition)
Status	Widely used

Prince2 Prince2 is a structured project management method originally developed for use in United Kingdom public sector projects and later adopted globally by private-sector organizations. It provides a process-driven framework emphasizing defined roles, stages, and controls to manage projects such as infrastructure works for Transport for London, IT programs for HM Revenue and Customs, or construction projects like Crossrail. The method has influenced practices in organizations ranging from European Commission agencies to multinational firms such as IBM, Accenture, and Siemens.

Overview

PRINCE2 defines a set of processes, themes, and principles intended to ensure projects deliver agreed products within tolerances of cost, time, scope, and quality. The method prescribes roles for stakeholders including an executive similar to chief executives in National Health Service trusts, a project board akin to governance bodies in Bank of England projects, and project managers comparable to those in Vodafone and Barclays. It is organized into themes such as business case and risk, and processes such as initiating and controlling a stage, aligning with project lifecycle practices used by organizations like World Bank, United Nations, and European Investment Bank.

History and Development

PRINCE2 evolved from earlier methodologies including PROMPT II developed for Central Computer and Telecommunications Agency work and later the original PRINCE released by the Office of Government Commerce. The method was codified in versions issued during the 1990s, updated following reviews influenced by standards such as ISO 21500 and guidance from bodies like AXELOS after its formation. Key editions reflected lessons from projects in sectors represented by British Airways, NHS England, Ministry of Defence, and international programs financed by entities like the Asian Development Bank and Inter-American Development Bank.

Principles, Themes, and Processes

PRINCE2 is built on seven principles that require continual business justification and defined roles, resonating with governance frameworks found in Sarbanes–Oxley Act-affected firms, European Central Bank oversight, and corporate boards of Unilever and BP. Its seven themes—business case, organization, quality, plans, risk, change, and progress—parallel components used in PMBOK Guide and standards from International Organization for Standardization. The seven processes—starting up a project, directing a project, initiating, controlling a stage, managing product delivery, managing a stage boundary, and closing a project—are applied in programs run by NHS Digital, Transport for London, Shell, and large events like the London 2012 Olympic Games.

Certification and Training

Certification for practitioners is provided through a tiered scheme offering Foundation and Practitioner levels, and higher qualifications including the PRINCE2 Professional credential administered by organizations such as AXELOS and accredited training providers like PeopleCert. Training courses and examinations are delivered worldwide in collaboration with professional bodies including Association for Project Management and corporate learning providers such as Udemy, Coursera, and LinkedIn Learning partners. Governments and corporations often mandate certification for project roles in procurement processes used by UK Cabinet Office, European Commission, and multinational firms like Deloitte and PwC.

Adoption and Use in Industry

PRINCE2 has been adopted across sectors including information technology projects at Cisco Systems and Microsoft, construction programs at Balfour Beatty, and financial services initiatives at HSBC and Goldman Sachs. Public administrations in countries such as Australia, Canada, New Zealand, and members of the European Union have integrated the method into project management toolkits. It is frequently combined with agile approaches used by Atlassian, Scrum Alliance, and Scaled Agile Framework teams to manage hybrid projects in corporations like Spotify and ING.

Criticisms and Limitations

Critics argue PRINCE2 can be bureaucratic and heavyweight for small, fast-moving projects, drawing comparisons with critiques leveled at standards like Waterfall model in contrast to Agile software development favored by Google, Facebook, and startups influenced by Lean Startup. Other limitations cited include perceived rigidity when applied without tailoring in contexts overseen by bodies such as European Court of Auditors or in rapid-development programs at Amazon Web Services. Debates continue in professional forums hosted by Chartered Institute of Personnel and Development and Institute of Electrical and Electronics Engineers groups about the balance between governance from PRINCE2 and flexibility required by modern product teams at firms like Netflix.

Category:Project management