The Prince2 project management methodology can be summarized using three key terms. Basically, Prince2 is all about organizational focus, effective control, and efficient management. Everything about Prince2 methodology revolves around these three important features. Correct implementation of key Prince2 principles could ensure prompt delivery of successful projects. So a good project manager should fully apply all the basic elements of Prince2 in order to get maximum benefits from this innovative project management model.
The Prince2 method was introduced in 1989. It was developed by the government of UK through its Central Computer and Telecommunication Agency. The CCTA was later renamed Office of Government Commerce, which now holds the trademark of the Prince2 project management methodologies. The system was originally designed as a standard model for all IT based project management tasks of United Kingdom. Because of the inherent flexibility and universal applicability of Prince2, it has been used for other projects even in non-IT environments. Today, Prince2 has been recognized as a standard method for all project management tasks of UK. The influence of Prince2 however has reached other countries and it is being applied to projects initiated by major industries and large organizations throughout the world.
Prince2 method’s effectiveness is due to the fact that it considers project management as a dynamic process. The system institutes effective organizational structures that complement each other. It rationalizes every project and derives from it achievable goals and deliveries. Each stage of the project will be monitored and any slippage will be resolved at once by responsible bodies. Suffice it to say that Prince2 stands on full control and pro-active management of the project using efficient organizational process. These are the key factors that contribute to the success of the Prince2 model.