Has anyone ever wondered what Prince2 actually stands for? It’s the latest and the greatest byword in the world of information technology. Everyone’s using it. Everyone wants to use it. But what is it really? To start off and answer the sixty million dollar question, Prince2 means Projects in Controlled Environments (so all of you with high-wired imaginations can stop imagining a strapping handsome British prince at the forefront of such a technology) and it is a method that is process-based in order to come up with effective project management. It is so popular (as you already know) that it is considered as the de facto standard that is extensively used by the government of United Kingdom. Its popularity has reached a global level, as it is also widely recognized and applied in many private sectors, both in the United Kingdom and abroad.
The Prince2 method is considered to be in the public domain. It offers the best practice guidance (non-proprietal, even!) on project management. As a little trivia, Prince2 was also established and registered by the Office of Government Commerce in the United Kingdom.
It offers a lot of great features, including business justification, a well-defined structure for the entire project management team, a planning approach that is project based, flexibility in terms of appropriate project levels and a deep emphasis on dividing the project in easily managed and controlled stages or chunks of tasks. All these and a lot more will surely excite more potential clients, but for the time being it is great to know what Prince2 actually stands for – literally and figuratively!