Prince 2

Prince 2

The following summarizes the PRINCE2 components:

Business Case: The existence of a viable Business Case is the main control condition for a PRINCE2 project. The Business Case is verified by the Project Board before a project begins and at every major decision point throughout the project. The project should be stopped if the viability of the Business Case disappears for any reason.

Organization: Since the Project Manager often has to direct staff who report to another management structure, some senior management oversight organization is needed to assure that those diverse resources are committed to the project. In addition, viability decisions need to made by management with an investment in the project, and an accountability for delivering it through the Project Manager. In PRINCE2 this oversight is the Project Board.

Plans: Plans are the backbone of the management information system required for any project, and require the approval and commitment of the appropriate levels of the project organization. The “Plans” component emphasizes the core concepts of planning; the major steps are highlighted in the process model, in “Planning.”

Controls: Control is about decision making: its purpose is to ensure that the project (a) is generating the required products which meet defined Acceptance Criteria; (b) is being carried out to schedule and in accordance with its resource and cost plans; and (c) remains viable against its Business Case.

Management of Risk: As project work is inherently less predictable than non-project work, management of the risks is an essential part of project management. To contain risks during the project, they must be managed in a disciplined manner, through risk analysis and risk management (as in the PMBOK).

Quality in a Project Environment: Quality management ensures that the quality expected by the customer is achieved through a quality system (similar to the PMBOK). Quality requirements of the project's deliverables are based in Product Descriptions, prepared by the Project Manager and approved by the Project Board.

Configuration Management: Configuration Management gives the project management team control over the project's assets (the products that it develops), and is vital to any quality system. It provides mechanisms for tracking and controlling the project's deliverables, and a system for tracking project Issues.

Change Control: Controlling scope change means assessing the impact of potential changes, their importance, cost, impact on the Business Case, and a decision by management on whether or not to include them.

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	Prince 2 The following summarizes the PRINCE2 components: Business Case: The existence of a viable Business Case is the main control condition for a PRINCE2 project. The Business Case is verified by the Project Board before a project begins and at every major decision point throughout the project. The project should be stopped if the viability of the Business Case disappears for any reason. Organization: Since the Project Manager often has to direct staff who report to another management structure, some senior management oversight organization is needed to assure that those diverse resources are committed to the project. In addition, viability decisions need to made by management with an investment in the project, and an accountability for delivering it through the Project Manager. In PRINCE2 this oversight is the Project Board. Plans: Plans are the backbone of the management information system required for any project, and require the approval and commitment of the appropriate levels of the project organization. The “Plans” component emphasizes the core concepts of planning; the major steps are highlighted in the process model, in “Planning.” Controls: Control is about decision making: its purpose is to ensure that the project (a) is generating the required products which meet defined Acceptance Criteria; (b) is being carried out to schedule and in accordance with its resource and cost plans; and (c) remains viable against its Business Case. Management of Risk: As project work is inherently less predictable than non-project work, management of the risks is an essential part of project management. To contain risks during the project, they must be managed in a disciplined manner, through risk analysis and risk management (as in the PMBOK). Quality in a Project Environment: Quality management ensures that the quality expected by the customer is achieved through a quality system (similar to the PMBOK). Quality requirements of the project's deliverables are based in Product Descriptions, prepared by the Project Manager and approved by the Project Board. Configuration Management: Configuration Management gives the project management team control over the project's assets (the products that it develops), and is vital to any quality system. It provides mechanisms for tracking and controlling the project's deliverables, and a system for tracking project Issues. Change Control: Controlling scope change means assessing the impact of potential changes, their importance, cost, impact on the Business Case, and a decision by management on whether or not to include them.