Prince2

Abstract

Many major projects fail due to complexity and poor management. The use of standardized project management methodologies is in many cases a necessity in order to achieve desired progress and results. PRINCE2 is a widely used project management methodology and is to be considered as a solution for managing advanced projects. It is designed to drive projects with focus on benefits in each stage of the project. The essence of PRINCE2 is to break the project down into smaller stages which simplifies the project's process. The following article will describe the method, compare it to other methodologies and come with a critical evaluation of it. The article will also discuss PRINCE2’s suitability in relation to a variety of project scales.