PRojects IN Controlled Environments (PRINCE2)

Definition - What does PRojects IN Controlled Environments (PRINCE2) mean?

PRojects IN Controlled Environments (PRINCE2) is a process-based approach to project management and is used primarily in IT paradigms. PRINCE2 is used for many types of projects and may be applied during any stage of project management.

PRINCE2 is a registered trademark of the UK's Office of Government of Commerce (OGC) and was developed as a best practice guideline and methodology for IT project management.

Techopedia explains PRojects IN Controlled Environments (PRINCE2)

PRINCE2 breaks a project into eight manageable processes, as follows:

Starting Up (SU) a Project
Directing a Project (DP)
Initiating a Project (IP)
Controlling a Stage (CS)
Managing Product Delivery (MP)
Managing Stage Boundaries (SB)
Planning
Closing a Project (CP)

This process set includes 40 different tasks, and each process is an iterative project management approach component, which means that each process complements subsequent processes. However, not all PRINCE2 implementation processes are used in software development or IT project management.