1.

Continued Business Justification:

 Every project must have a justifiable reason for being undertaken,
typically in terms of contributing to the organization's strategic
objectives or fulfilling a specific need.
 Business justification should be regularly reviewed throughout the
project lifecycle to ensure that it remains valid and that the project
continues to deliver value.
2. Learn from Experience:
 Lessons learned from previous projects, whether successful or not,
should be captured, shared, and applied to improve current and future
projects.
 This principle encourages a culture of learning and continuous
improvement within the organization.
3. Defined Roles and Responsibilities:
 Clearly defined roles and responsibilities ensure that everyone involved
in the project understands their duties and accountabilities.
 Roles such as Project Manager, Executive, Senior Supplier, and Team
Manager are defined within PRINCE2, each with specific responsibilities
to ensure effective project governance.
4. Manage by Stages:
 Projects are divided into manageable stages, each with its own
objectives, deliverables, and control points.
 Managing by stages allows for better control and monitoring of the
project's progress, with decisions about continuing to the next stage
based on the achievement of predefined criteria.
5. Manage by Exception:
 PRINCE2 delegates authority to the appropriate level within the
organization, empowering individuals to make decisions within
predefined tolerances.
 If a project's performance falls outside of agreed tolerances, it is
escalated to the next level of management for resolution.
6. Focus on Products:
 PRINCE2 emphasizes the importance of defining and delivering
tangible products or outcomes throughout the project lifecycle.
 Products are identified, defined, and managed from initiation through
to closure, ensuring that they meet stakeholder requirements and
expectations.
7. Tailor to Suit the Project Environment:
 PRINCE2 is not prescriptive; it can and should be tailored to suit the
specific needs, size, complexity, and risk profile of each project.
 Tailoring involves selecting and adapting PRINCE2 processes, themes,
roles, and management products to fit the unique circumstances of the
project.
By adhering to these seven principles, organizations can increase the likelihood of
project success, improve decision-making, and enhance overall project management
effectiveness. These principles provide a solid foundation for applying the PRINCE2
methodology in various project environments.