The Prince2 project management system is made up of a series of intricately woven components that all work together in order to perform the expected project tasks that the user has assigned. Specifically, there are eight components. The first component goes by the title Business Case. Here you can find the justification for starting a project in the first place. Next comes the component called Organization. The Organization component will define who the members of the project team are and what their role is in the entire project structure. The third component, the Plans component is in charge of documenting the methods in which the project will be carried out and what it actually aims to accomplish. Included here are the specific responsibilities of each person that is assigned to a particular aspect of the project. Fourth, we have the Controls component, which will state how much control the project manager and the project board is allowed to exercise in order to carry out the project smoothly and in the most efficient means possible.

Next comes the Management of Risk component. Here, the different types of risks that a project might encounter are in detail. The risk is defined as an outcome that has an ambiguous nature, or it can be negative or positive. However you may look at it, an approach is necessary to deal with the results of such an encounter. After this comes Quality in a Project Environment, which is the way in which the entire project must ensure that quality is upheld every time a product is released and delivered to the customers. Configuration Management, the seventh component, is the way in which the products that were produced are tracked and monitored. And finally, we have the Change Control component, wherein the ways in which the management of the project is to any specifications are determined.

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