The Buzzword that is Prince2

Everyone’s talking about it. It’s part of everyone’s conversations. It’s the newest byword in the world of project management. What is this Prince2 Project Management system, anyway? If you have not got a clue or are not really in the know (task, task!), it is always best to start your knowledge with a basic definition of Prince2 Project management system.

This UK government developed project management methodology has been widely used (international, actually) in the realm of information technology. This Prince2 system incorporates the use of the best proven technology practices of project management, gathered from a wide range of industries, in order to meet the project management needs of different businesses. Its main selling points are its document templates that have clearly visible decision points and have two levels of exam-based individual certifications, which are Foundation and Practitioner.

Prince2 runs using eight processes that include: Startup (defining the needs), Direction (detail management), Initiation (for project approval presentations), Stage control (manageable stages of sizes and risk levels), Stage Boundary Movement (stage revision and development), Planning (decision-making of products and activities, plus costing), Product delivery management (product-schedule variable) and Closing (evaluation). These eight stages make up the entire Prince2 process. It can be said that it sounds very simple but to a certain extent it actually is. This is because Prince2 is a highly developed and complicated system that has simplicity as its end product. And for any user looking for a way to make things progress in a more efficient manner, this is definitely good news!