The PRINCE2 methodology has many advantages and benefits to it. The technique of PRINCE2 methods works with most project management techniques but specifically describes the quality reviews for project documented, output driven product based planning and a change control process for agreeing potential changes and fixing faults. PRINCE2 focuses mainly on the aspects of managing projects in the life cycle for project managers in an ideal world, PRINCE2 ensure that every step within the project life cycle is completed on time and within the budget while using the right resources. PRINCE2 takes a process approach to project management, fitting each process in to a framework of essential components that need to be applied throughout the project. PRINCE2 stands for Projects in Controlled Environment and it was developed at a time when the UK government was outsourcing an increasing amount of its work, and the methodology incorporates best practice on the integration of internal teams and external agencies. It was originally developed for UK government IT projects, its use has been widened to large projects of all kinds, and it has been taken up internationally in more countries in both public and private sectors such as police forces, telecommunication companies, banks, as well as other large commercial organisations and also used in enterprise resource planning implementations. PRINCE2 is one of the world’s most widely used project management methodology.
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