PRojects IN Controlled Environments (PRINCE) is a project management method. It covers the management, control and organization of a project. "PRINCE2" refers to the second major version of this method and is a registered trademark of the Office of Government Commerce (OGC), an independent office of HM Treasury of the United Kingdom.
PRINCE 2 shows the processes involved in managing a various projects and how they link with each other, creating the normal content of a PRINCE2 project.
PRINCE2 is a structured approach to project management. It provides a method for managing projects within a clearly defined framework. PRINCE2 describes procedures to coordinate people and activities in a project, how to design and supervise the project, and what to do if the project has to be adjusted if it doesn’t develop as planned. In the method each process is specified with its key inputs and outputs and with specific goals and activities to be carried out, which gives an automatic control of any deviations from the plan. Divided into manageable stages, the method enables an efficient control of resources. On the basis of close monitoring the project can be carried out in a controlled and organized way. Being a structured method widely recognized and understood [citation needed], PRINCE2 provides a common language for all participants in the project. The various management roles and responsibilities involved in a project are fully described and are adaptable to suit the complexity of the project and skills of the organization.
