PRINCE2 (PRojects IN Controlled Environments 2nd edition) is a comprehensive method for the management of projects. The methodology comprises of four integrated elements. The method’s Processes describe the core activities required to control the preparation, execution and closure phases of a project. Supporting these processes are a series of best practice project management Principles, management Themes and a fourth element referred to as Tailoring PRINCE2.
The PRINCE2 methodology aligns organizations to best practice as it:
Sets out processes to justify the start and continuation of a project
Clearly defines project roles and responsibilities
Demands regular reviews of a project’s ongoing viability
Establishes a standard approach for planning
Integrates the application of robust and proven project controls
Is a repeatable method that can be used on small and large projects and different project types
In some cases additional tools and techniques will be required to support the use of the method based on project type and corporate environment.
Therefore this methodology can be ‘scaled down’ or even ‘scaled up’.