Prince2 stands for project in controlled environment. It is a process based method which is used for effective project management.
A project is a temporary endeavor that is unique with a definite start and an end time with a desired result.
The key features are –
- Widely organized and understood
- Can be applied to any project
- Based on management by exception
- Invaluable diagnostic tool
- Consistency and reusability in project work.
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A plan defines –
- Risks, Resources , Communication
- Scope, Budget, Schedule, Quality
The levels of plan are –
- Project Plan
- Stage Plan
- Team Plan
- Exception Plan
The Planning steps are –
- Designing the pal
- Define the products
- Identify Activities and Dependencies
- Prepare Estimates
- Prepare Schedule
- Document plan
- Identify Risks
The process model includes:-
- Directing a project(DP)
- Starting up a project(SU)
- Initiating a project(IP)
- Controlling a stage(CS)
- Managing a project delivery(MP)
- Managing a stage Boundary(SB)
- Closing a Project(CP)
- Support project
- Accept Results
- Provides Management Approval
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During managing a Stage Boundary process the request to approve the next Stage Plan is made.
Managing Product Delivery allows non-PRINCE2 practices to be integrated into a PRINCE2 project environment when creating products.