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PRINCE2 method is a process-based approach for project management. When we talk about a process, we can say that Processes are structured set of activities designed to accomplish a specific objective. A Process takes one or more defined inputs, processes them and turns them into defined outputs. PRINCE2 method defines seven such processes, which provide the set of activities required to direct, manage and deliver a project successfully.

The 7 PRINCE2 process are: 

Starting Up a Project  – The aim of this process is to check if it is worthwhile to even initiate the project. Do the minimum necessary activities in order to check whether initiating the project is as per Justification of the project.

Initiating a Project – The purpose of the Initiating a Project process is to establish solid foundations for the project. It also enables the organisation to understand the work that needs to be done to deliver the project’s products before committing to a significant spend.

Directing a Project –The purpose of the Directing a Project process is to enable the Project Board to be accountable for the project’s success. This is done by asking them to make key decisions and exercising overall control while they delegate the day-to-day management of the project to the Project Manager.

Controlling a Stage – Controlling a Stage process is for project manager. In which he or she assigns the work to be done, monitors such work, deals with issues and reports progress to the Project Board, and takes corrective actions to ensure that the stage remains within tolerance set by the project board.

Managing Product Delivery –The purpose of the Managing Product Delivery process is to control the link between the Project Manager and the Team Manager(s). It is achieved by placing formal requirements on accepting, executing and delivering project work in form of work packages.

Managing a Stage Boundary –The purpose of the Managing a Stage Boundary process is to enable the Project Board to be provided with sufficient information by the Project Manager so that it can review the success of the current stage, approve the next Stage Plan, review the updated Project Plan, and confirm continued business justification and acceptability of the risks.

Closing a Project – The purpose of the Closing a Project process is to provide a fixed point at which acceptance for the project product can be checked. At this point it is confirmed whether objectives set out in the original Project Initiation Documentation have been achieved or not.