In order to provide IE project management method that can be applied to projects of different type scale culture and so on PRINCE2 is based on a set of principles. Principles have important properties one of them is that they are universal which means they can apply it to every project.
The seven principles are:
1. Continued business justification
2. Learn from experience
3. Defined roles and responsibilities
4. Manage by stages
5. Manage black exception
6. Focus on products
7. Tailored to suit the project environment.
One of the main things that we do with PRINCE2 is to continue to check that the project is justified as we manage the project throughout its Allies and finally the justification for the project must not only be documented but it must be approved by people who are in a position to approve a justification. PRINCE2 project is documented in its business case.
You have to choose the project in most efficient or even the cheapest way ofimplementing the project and you need to prove the ongoing about theproject in the right way. If the project can no longer be justified it should be stopped. Stopping the project is not the same as flailing and sometimes situations change and continuing with the project cannot be justified
Learn From Experience:
PRINCE2 project seems to learn from previous experiences acted upon throughout the life of the project. Now learning from experience is important at all stages of the project. The project include lessons in all the reports and reviews that occur up as part of the project and always seek opportunities to improve as the project progress it is not only talking about possible lessons learned to later projects you should be able to use the lessons learned in the current project and in fact everybody involved in a project should seek lessons learned.