PRINCE2 is based on seven principles and these cannot be tailored. Tolerance type authorised to the lower level The cost of the project should not exceed £100,000īenefits can have as target the cost of the benefit, but the cost tolerance above is related to the cost of the project, not the cost of the benefit.Įach management level is checked against these tolerances, coming from the upper level. Printer should be set up by the customer 10% faster than the ones from the competitors, and it must be 10% cheaper Printer should print at least 10 different standard page sizes
The project/stage/team plan cannot last longer than 3 months The printer should print the documents only in black/white
In the following table project level tolerances are summarised: Tolerance Type They quantify the project tolerance and are considered during decision-making processes. These aspects are also called tolerances or performance goals. The second edition was announced and released in 1996 as a generic PM methodology.
#Managing successful projects with prince2 manual pdf free update
The justification for the 2017 update was the evolutions in practical business practices and feedback from PRINCE2 practitioners in the actual project environment. There have been two major revisions of PRINCE2 since its launch in 1996: "PRINCE2:2009 Refresh" in 2009, and "PRINCE2 2017 Update" in 2017. PRINCE2 has become increasingly popular and is now a de facto standard for project management in many UK government departments and across the United Nations system. PRINCE2 was released in 1996 as a generic project management method. PRINCE2 is the second edition of the earlier PRINCE method which was initially announced and developed in 1989 by CCTA (the central computer and Telecommunications Agency), a UK government support agency. PRINCE was renamed in a Civil service competition as an acronym for " PRojects IN Controlled Environments". They gave it the name 'PRINCE', which originally stood for " PROMPT II IN the CCTA Environment". In 1989 the Central Computer and Telecommunications Agency (CCTA) adopted a version of PROMPT II as a UK Government standard for information systems (IT) project management. PRINCE was derived from an earlier method called PROMPT II (Project Resource Organisation Management Planning Techniques).
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