Seven (7) Principles of Prince 2

Seven (7) Principles of Prince 2

Seven (7) Principles of prince 2 provides  guiding obligations and good practices that determines if the project is being managed using Prince 2.

Continuous Business Justification

A PRINCE 2@ project requires continued business justification. A requirements for a PRINCE 2@ projects are there should be a justifiable reason to start a project. The justification should remain valid throughout the life of the project. Although the justification should remain valid, it may change or evolve. The justification should be approved and documented in a Business Case. If, for any reason, the project can no longer be justified, it should be stopped.

Learn From Experience

A PRINCE 2@ project learn from experience. PRINCE 2@ project teams learn from previous experience: lessons are sought,recorded and acted upon throughout the life of the project. The teams learn from historical data based on previous similar projects in the same organization or from a different organization, however in the same industry. They learn when the project starts, as it progresses and when it closes. It is the responsibility of everyone involved with the project to proactively seek lessons learnt.




Defined Roles and Responsibilities

A PRINCE2@ project has defined and agreed roles and responsibilities within an organization structure that engages the business, user and supplier stakeholder interests.

Manage by  Stages

A PRINCE2@ project is planned, monitored and controlled on a stage-by-stage basis. PRINCE2@ suggests that the work be divided in multiple logical stages called management stages. The production of the project is carried out in phases called technical stages. PRINCE2@ project should have minimum two management stages: one initiation stage and one or more further management stages. The shorter the stage, the more the control and vice-versa. Stages are to be planned, delegated, monitored and controlled according to the business priority, risk and complexity involved.

Manage By Exception

A PRINCE2@ project has defined tolerances for each project objective to establish limits of delegated authority. Every PRINCE2@ project has four (4) levels of management. They are:

Corporate or programme management: The Corporate or Programme Management appoints an Executive, whose responsibility is to get the project executed as per the tolerances defined by them.

Project Board – Directing: Project Board is responsible for providing overall directions and management to the project.

Managing – Project Manager: The Project Board appoints Project Manager to take care of day-to-day management of the project within the constraint set by the Project Board.

Delivering – Team Manager: The Project Manager gets the work done through Team Managers, who deliver the actual specialist product of the project.

According to PRINCE2@, the Project Manager controls six aspects of the project and the are Time, Cost, Scope, Benefits, Risks and Quality. If the tolerances are forecast to be exceeded, they are immediately referred to the next management layer for a decision. Right decisions are made by the right level of people at the right time.

Focus On Products

A PRINCE2@ project focuses on the definition and delivery of products, in particular their quality requirements. The product description includes each product’s purpose, composition, derivation, format, quality criteria and quality method. Product description is used to estimate efforts, determine resource requirements, determine dependencies and determine schedule of activities.

Tailored to Suit the Project Environment

Prince2@ is tailored to suit the project’s environment, size, complexity, importance, capability and risk. Project Initiation Documentation (PID) describes how the method is being tailored for a project. Tailor the project management method to suit the project environment such as business processes for human resource, finance and procurement management. Set project controls based on scale, complexity, importance, capability and risks involved in the project.




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