Application of PRINCE2. and the Impact on Project Management 12+

📖 Seminar paper from the year 2009 in the subject Business economics - Personnel and Organisation, grade: 1,7, University of Applied Sciences Berlin, language: English, abstract: The abbreviation PRINCE stands for PRojects IN Controlled Environments and describes a method for effective project management for all types of project. It was developed by the Office of Government Commerce and launched by the name PRINCE2 in 1996. PRINCE2 is now a de facto project management standard and widely used by the UK government as well as in the private sector, both in the UK and internationally.PRINCE2 is a process oriented approach, which can be adjusted to any type of project due to its flexibility and scalability. The approach and the needed basic knowledge are assigned to three categories: processes, components and techniques. Processes ensure that start, end and advancement of the project are monitored and controlled. The processes embrace the activities from setting the project off on the right track, through controlling and managing the progress to the completion of the project. Each PRINCE2 project will have to regard these processes differently. The following processes are applied in PRINCE2: Starting Up a Project, Initiating a Project, Directing a Project, Controlling a Stage, Managing Product Delivery, Managing Stage Boundaries, Closing a Project and Planning. The components are key aspects of project management that are used throughout the processes and include the Business Case,...