PMBOK® is the recognized (de facto) standard of project management knowledge. In the UK and Europe, PRINCE2™ is the project management methodology of choice, and is required by the UK government for all projects it commissions. This paper will provide an overview of the PRINCE2™ method and examine the similarities and differences between PMBOK® and PRINCE2™. Finally, it will suggest how these two project management approaches relate to and complement each other, and how the PRINCE2™ project management methodology provides added value to a PMBOK® knowledge base.
PRINCE2™ (short for “PRojects IN Controlled Environments”) is the de facto standard in the UK. It was developed for and is used extensively by the UK government, and is widely used in the private sector, in the UK and internationally.
PRINCE2™ is in the public domain, offering non-proprietary best-practice guidance on project management. Anyone may use this methodology, and the manual describing PRINCE2™ can be purchased through online booksellers, as well as through the UK government website, http://www.ogc.gov.uk/prince2. PRINCE2™ is supported by a rigorous accreditation process, including accreditation of training organizations, trainers, practitioners and consultants. (The accrediting body is the APM Group, www.prince2.org.uk; their website lists approved training organizations, consultants and practitioners.)
PRINCE2™ is a Process-based, structured project management methodology that highlights how eight particular Components, when understood and effectively addressed, can reduce risks in all types of projects.
While PRINCE2™ is based in the same ground as the PMBOK®,it spotlights a number of areas to concretize PMBOK®, and answers the question “how do I apply these concepts in my projects?”
Jay Siegelaub has over 30 years of professional experience delivering and supporting projects in information technology, insurance systems, banking, and nonprofit strategic planning, as well as in the pharmaceutical, financial service, consulting, and consumer products industries. As a recognized educator he has trained thousands of project managers over the past 23 years, including 13 years as the Project Management tutorial instructor for the Drug Information Association.
Jay’s recent responsibilities included leading the North American Change Management and Training practices for a UK-based management consulting firm, training corporate consulting professionals in project and program management, and supporting clients in managing the “people” issues of their business change initiatives. He has authored articles on training, project management and information technology for various publications, and often presents at conferences, including the PMI North American Congress (1999, and 2004 – 2007), ProjectWorld and ProjectSummit.
In addition to his PMP® certification, Jay has his MBA in Organization Management from New York University’s Stern School of Business, and is an accredited PRINCE2™ Practitioner, Instructor and Examiner. He has taught and consulted in PRINCE2™ in North America for 10 years (the first US-accredited PRINCE2™ instructor), and worked for the company (and with the authors) that wrote the PRINCE2™ Manual for the UK government.
He has provided Change Management and Project Management consulting and training (including PRINCE2) to companies such as Sun Microsystems, NATO, the United Nations Development Programme, Bechtel, IBM, Philip Morris, Credit Suisse, JPMorganChase and Diageo.
Jay also consults in Organizational and Professional Development.