Welcome to the first of four videos in the series PRINCE2 project management explained. This series is designed to give you a clear understanding of what PRINCE2 is all about.
PRINCE2 stands for PRojects In Controlled Environments. It’s a project management framework that enables an organization to plan, manage and control a project. A project is a means by which an organization introduces change. Organizations that don’t change are likely to stagnate or die. Projects deliver products.
For example, a new computer system which the organization will then use to achieve changes or outcomes. For example, more efficient working practices. These outcomes, in turn, can be measured in the form of benefits. The total benefits that can be realized from a project must be more than the costs of the project and the costs of operating the project products. Otherwise, the project will not deliver a return on investment.
PRINCE2 is a generic project management framework, which means it’s designed to be suitable for any project in any industry. It’s based upon the most up-to-date, best practices in project management. This makes it a very popular choice amongst organizations around the world.
PRINCE2 guides you through the whole project lifecycle and can be adapted to meet the particular needs of your project environment. It is composed of four integrated elements. They are principles, themes, processes and tailoring to the project environment.
Everything in PRINCE2 is based upon these principles. They are the foundations of the framework. The themes concern aspects of project management that must be continuously addressed throughout the project.
The processes describe who is responsible for performing the themes at different points in the project.
Finally, every project is different, so the themes and processes must be tailored to suit the needs of the environment. In the following videos, we will look at each of these integrated elements in turn, starting with the PRINCE2 principles.