02 principles of prince2
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Principles
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PRINCE2is a registered trade mark of the Cabinet Office.
The Swirl logo is a trade mark of the Cabinet Office.
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Lesson Objectives Seven PRINCE2 Principles
Continued business justification
Learn from experience
Defined roles and responsibilities
Manage by stages
Manage by exception
Focus on products
Tailor to suit the project environment
Characteristics of Principles
Importance of PRINCE2 Principles
Definition and Explanation of Principles
Principles
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The Seven PRINCE2
Principles Continued business justification
Learn from experience
Defined roles and responsibilities
Manage by stages
Manage by exception
Focus on products
Tailor to suit the project environment
Characteristics of principles
Universal, can be applied to any project
Self validating, proven in practice
Empowering
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The PRINCE2 Principles are integral to the PRINCE2 method because:
The PRINCE2 principles enable the PRINCE2 method to be applied to any project
irrespective of its scale, organization, type, etc.
The principles ensure that the PRINCE2 method is applied in a manner that is
ideal for a project to succeed.
The principles enable the practitioners of PRINCE2 method to control and
manage the projects effectively.
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Definition and Explanation of Principles
Continued Business Justification
A PRINCE2 project must have continued business justification
Every project, including compulsory projects, must have business justification to begin
with. This will ensure that poorly conceived projects that have no real benefits to the
organization are never initiated and that the initiated projects strategies and objectives
are aligned with those of the corporate.
Justification should be documented in the Business Case
The business justification should be documented in the Business Case and monitored
during project execution at every key milestone to ensure that the project remains on
track and aligned with the business goals throughout the projects life.
Justification must remain valid
The business justification must remain valid throughout the life of the project. Though
the business justification can change it must remain consistent with the project. But if
the justification becomes invalid at any point during the life of the project, the project
must undergo premature closure.
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Learn from Experience
Identify and document lessons
Learning from experience permeates the PRINCE2 method.
At the beginning of the project, lessons from previous similar projects are
identified and documented to verify if they could be applied for the benefit of
the current project.
During project execution, lessons from the current project are documented
and verified to determine if they could be applied for the benefit of the current
project or any of the future projects that are similar to the current one.
At the end of the project, documented lessons are transferred to the centre of
excellence or corporate management for use on future projects.
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Defined Roles and Responsibilities A PRINCE2 project will have a specific organization structure that contains
agreed roles and responsibilities.
All the three primary stakeholders (viz. business, users and suppliers) interests
need to be effectively represented in the project management team.
Explanation: Projects can be implemented only with the involvement of the peoplewho understand their roles and responsibilities. There should be a well defined
reporting system to ensure that the flow of information on all aspects of project
execution runs smooth.
To ensure this, a PRINCE2 project will have four management levels: Corporate
or programme management, Project Board, Project Manager, and Team
Manager.The Project Board is vested with the authority to oversee the implementation of
the project and is ultimately responsible for the success of the project. The Project
Board is so constituted that the three primary stakeholder interests are
represented.
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Manage by Stages
A PRINCE2 project is planned, monitored and controlled on a stage-by-stage
basis.
Management stages provide control points to senior management.
Explanation: For ease of planning, execution and control, PRINCE2 projects are
divided into management stages. Each management stage will have a Stage Plan
as part of the overall Project Plan. The number of such stages depends on the
nature and complexity of the project. But a PRINCE2 project must have minimum
of two stages: Initiation stage and the another management stage comprising the
rest of the project.
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Manage by Exception A PRINCE2 project has defined tolerances for each project objective to establish
limits of delegated authority.
Tolerances are set for time, cost, quality, scope, risk and benefits.
Explanation: Manage by Exception principle serves the purpose of saving time for
top management. This is ensured by delegation of authority to the various levelsof management. As part of this delegation, tolerances are set for time, cost,
scope, quality, risk, and benefits for each management level. When tolerances
are forecast to be exceeded the issues are escalated to the immediately higher
management level.
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Focus on Products A PRINCE2 project focuses on the definition and delivery of products particularly ,
quality requirements
Projects are out-put oriented instead of activity oriented
Clarity on acceptance criteria of projects products is provided by means of
Product Descriptions
Explanation: This principle ensures that projects products and their attributes are
planned for well in advance and much before the activities for the production of
these products are determined. In the absence of such planning, there is scope
for acceptance disputes, rework, user dissatisfaction, etc.
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Tailor to suit the Project Environment The PRINCE2 method is tailored to suit the projects environment , size,
complexity, importance, capability and risk
Explanation: PRINCE2 method of project management is tailored to suit the
specific requirements of each project. It is important to note that such tailoring is
done for every project. If the PRINCE2 method is used across an organization it issaid to be an embedded organization. Tailoring benefits project management by
reducing the burden and increasing the level of control on the part of the
management in the context of external and project factors.
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In this chapter, we have learnt about: Seven PRINCE2 Principles
Continued Business Justification
Learn from experience
Defined roles and responsibilities
Manage by stages
Manage by exception
Focus on products
Tailor to suit the project environment
Characteristics of Principles
Importance of PRINCE2 Principles
Definition and Explanation of Principles
Principles