PRINCE2
Business & Finance abbreviation · Project Management
| Stands for | Projects in Controlled Environments |
|---|---|
| Categories | Business & Finance |
PRINCE2 stands for Projects in Controlled Environments, a project management abbreviation also used in education.
Process-based project management method, widely used in the UK, Europe and Australia, that structures projects around principles, themes and processes, with defined roles such as the project board and clear stage boundaries.
Example: The ministry's IT projects must follow PRINCE2, with a project board approving each stage.
Usage notes
Developed for the UK government: the original PRINCE appeared in 1989 and PRINCE2 in 1996. Its seven principles include continued business justification and managing by exception. Ownership passed to Axelos and then to the certification company PeopleCert, which released a seventh edition in 2023. Foundation and Practitioner exams are the standard certifications.
Related abbreviations
More project management abbreviations
- PMO – Project management office
- PMP – Project Management Professional
- PO – Product owner
- PoC – Proof of concept
- PPM – Project portfolio management
- PRD – Product requirements document
- PSM – Professional Scrum Master
- PV – Planned value
- RACI – Responsible, accountable, consulted, informed
- RAG – Red, amber, green
- RAID – Risks, assumptions, issues, dependencies
- ROM – Rough order of magnitude