PRINCE2 Methodology: Processes, Model, Benefits, Documentation, Role, Tailoring

PRINCE2 Methodology
TESCO Plc

Table of Content
 Introduction
 Processes of PRINCE2
 Model of PRINCE2
 Benefits of PRINCE2 Methodology
 Types of Documentation
 Role of PRINCE2 Methodology
 Tailoring of prince 2 methodology within organization.
 Conclusion
 References

INTRODUCTION
Projects in Controlled Environment is known as PRINCE2, it is considered as an
effective structure of project management method and practitioner certification
program. This study helps in emphasizes categorization of projects among
manageable and controlled stages. This is widely applied by an organization or an
individual for managing their business and its operation at wide level. PRINCE2 is a
DE-facto standard which is applied by the government of UK or widely practiced and
recognized in the private industries within United Kingdom.

Processes of PRINCE2
There are various process of PRINCE2 Methodology, which are evaluated as
below:
 Starting up a Project (SU)
 Initiating a Project (IP)
 Directing a Project (DP)
 Controlling a Stage (CS)
 Managing a Stage Boundary (SB)
 Managing Product Delivery (MP)
 Closing a Project (CP)