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The 7 PRINCE2® Principles

PRINCE2 is based on 7 key project management principles.  These principles are tried and tested and if followed will greatly improve your projects chance of success.

So what are the 7 PRINCE2 Principles?

  1. Continued Business Justification - every project needs to be viable. If not why are you doing it? PRINCE2 ensures you have a focus throughout the project lifecycle on ensuring that the project will help deliver value to the organisation.
  2. Learn From Experience - members of the project should be learning all the time and using that experience to manage the project more effectively.
  3. Defined Roles and Responsibilities - people should understand what their role is on the project team and what responsibilities come along with that role.
  4. Manage by Stages - the project should be broken up into manageable stages.  There is no point trying to plan in detail what you will be doing in two years’ time.  Also this allows you to have a chance to review the project at the end of each stage to see if it is still on track.
  5. Manage by Exception - it is key that the right members of the project team make decisions. Not every decision needs to be made by the Project Board or even the Project Manager.  PRINCE2 allows decisions to be made by the right level in the project team by delegating authority through the use of tolerances.
  6. Focus on the Products - the project should deliver a product that is fit for purpose.  To do this the project needs to understand what the customer wants and focus on delivering what is expected.
  7. Tailoring to Suit the Project Management - every project is unique. PRINCE2 is a generic project management methodology meaning it can be applied to any type of project regardless of size or complexity.  The key with PRINCE2 is in how you carry out the processes and how you apply the themes.  This will vary depending on the project.