Understand the seven guiding principles that underpin the PRINCE2 method.
Covers the seven PRINCE2 principles that provide the foundation for managing projects: ensure continued business justification, learn from experience, define roles, responsibilities and relationships, manage by stages, manage by exception, focus on products, and tailor to suit the project. Includes understanding how principles guide project decisions and how tailoring is documented.
5 minutes
5 Questions
PRINCE2 7 Foundation is built upon seven guiding principles that form the foundation of the methodology and must be applied for a project to be considered a true PRINCE2 project. These principles are universal and can be tailored to suit any project environment.
1. **Ensure Continued Business Justification**: Every PRINCE2 project must have a valid business reason documented in a Business Case. This justification must remain valid throughout the project lifecycle, and if it ceases to be viable, the project should be stopped.
2. **Learn from Experience**: Projects should draw on lessons from previous projects and continuously capture new lessons throughout the current project. This promotes organizational learning and improvement.
3. **Define Roles and Responsibilities**: A clear organizational structure with defined roles and responsibilities ensures everyone understands their duties. This includes business, user, and supplier stakeholders working together effectively.
4. **Manage by Stages**: PRINCE2 projects are planned, monitored, and controlled on a stage-by-stage basis. This provides control points for the Project Board to assess viability and make decisions.
5. **Manage by Exception**: Tolerances are set for each project objective, allowing delegation of authority within defined limits. This enables efficient management as escalation only occurs when tolerances are forecast to be exceeded.
6. **Focus on Products**: PRINCE2 projects concentrate on defining and delivering products that meet specified quality requirements. Product descriptions clarify scope and quality expectations.
7. **Tailor to Suit the Project**: PRINCE2 must be adapted to suit the specific project context, considering factors such as environment, size, complexity, importance, capability, and risk. The methodology should never be applied rigidly but shaped appropriately.
These principles provide a framework that ensures projects are well-controlled, stakeholder-focused, and aligned with business objectives while remaining flexible enough to accommodate different project types and organizational contexts.PRINCE2 7 Foundation is built upon seven guiding principles that form the foundation of the methodology and must be applied for a project to be considered a true PRINCE2 project. These principles are universal and can be tailored to suit any project environment.
1. **Ensure Continued Business Just…