The 7 underlying Principles that form the basis of the PRINCE2 methodology are as follows:
Continued business justification – all projects must be continually justified.
Learn from experience – projects must demonstrate lessons have been captured from previous and current projects and integrated to improve the chances of success.
Defined roles & responsibilities – continued representation of users, suppliers and the business, each project team member needs to understand their role and agree to defined responsibilities.
Manage by stages – in PRINCE2 projects, project plans are broken into manageable stages that can be planned, monitored and controlled.
Manage by exception – use of management’s time efficiently whilst maintaining maximum control with tools such as end stage assessments, progress reporting and tolerances.
Focus on products – ensuring quality requirements for the project’s products are defined and agreed to, allowing improved resource estimating and activity identification.
Tailor to suit the project – no one methodology is appropriate for every project. The complexity of each project differs based on project size, commercial value and risk. Each element of PRINCE2 should be applied according to the size, complexity, importance and risk associated with the project.
These 7 Principles are integrated throughout PRINCE2's themes and processes.
The Themes may be described as key project management functions that need to be applied through the life of a project. By exploring these Themes PRINCE2 outlines the relevant management aspects that need to be addressed to ensure control and successful management of the project. The Themes are:
- Business Case
The 7 Processes map out a logical order in which to apply PRINCE2’s Principles and Themes. Each Process provides further details on management activities, responsibilities and project management documents (known as management products) for capturing important project information.