PRINCE2, A Project Management Methodology

Project management is a discipline that is indispensable and rapidly expanding as an organization nationally and globally. To implement new strategies and products successfully, an organization needs to select project managers to introduce new products, services with a purpose of gaining competitiveness in the market. However by selecting a project manager and a team, an organization is not guaranteed successful project outcomes. In past years different methodologies have been developed to help organizations consider all the necessary components of project management, e.g. planning, controlling, communication and finalization of projects. One of the widely used project management methodologies is the PRINCE2 method, this methodology is based on seven principles and seven themes which will be described throughout this article. While this article is going to be used publicly in the future, it is important to know other properties of this methodology, e.g. scalability, advantages and drawbacks, in order to make the right discussion, while choosing PRINCE2 methodology for a firm.