PRINCE2 is based on five integrated elements PRINCE2 principles The principles are the guiding obligations that determine whether the project is genuinely being managed using PRINCE2. There are seven principles, and unless all of them are applied, it is not a PRINCE2 project. The project context The principles, practices, and processes are applied by the people involved to ensure that the method is fit for the project context. PRINCE2 processes The seven processes describe the entire project lifecycle, from activities before getting started, through the stages of project delivery, and to the final act of project closure. Each process has checklists of recommended activities and related responsibilities. PRINCE2 practices The practices describe essential aspects of project management that must be applied consistently and throughout the project lifecycle. The seven practices explain the specific treatment required of that aspect of project management for the PRINCE2 processes to be effective and why they are necessary. People Projects need people, mainly those working on the project and those affected by the project. An understanding of the needs, capabilities, and motivations of the people involved and the relationships between them is crucial to how the project is established and managed. Quick Reference Card PRINCE2®7 Based on Managing Successful Projects with PRINCE2®, QRC by Henny Portman, July’23 PeoplePractices Processes Principles Project context Organizational and project eco systems PRINCE2 Project management team structure People or groups Relationships Project ecosysteem Organizational ecosysteem Business Users Suppliers Business layer Project board Executive Senior user(s) Senior supplier(s) Team members Project assurance Project manager Project support Team manager(s) Within the project management team From the business From the supplier Lines of authority Project assurance responsibility Lines of support/ advice Project log End project report Lessons report Initiating a project Manage a stage boun- dary Project Mandate Review Daily log Lessons register (Initiation) stage plan Project briefCreate Create Create Review Approve Project initiation documentation Risk register Issue register Create/ update Product register Quality register Stage plan Team plan Work package Description Create Review Review Update Update Update Highlight Report Create Checkpoint report Review Issue Report Update Previous Highlight Report Approve Exception report Create Update Create Approve Create Createbenefits management approach End stage report Create Exception plan Create Create Close Approve ApproveApprove InspectRespond Approve Approve Review Respond Business case (Detailed) Quality management approach Change management approach Risk management approach Communication management approach Project Plan Project product description Product Description(s) Project product description Business case (Outline) Lessons report Update/ Review Update Review / Update Review Review Review Review Update time driven time driven Previous checkpoint report Review Create / assemble Directing a Project Closing a project Controlling a stage Managing product delivery Starting up a project Sustainability management approach Commercial management approach Digital and data management approach Product description(s) Product description(s) Business case Organizing Plans Quality Risk Issues Progress colour of the edge of a management product shows relationship with practice Principles Project management team structure Project management team structure ensure continued business justification learn from experience define roles, responsibilities and relationships manage by stages manage by exception focus on products tailor to suit the project Issue management approach colour of an arrow corresponds with the input or output to the related process Baseline management product Record Report Practices Project controls Benefits Time Cost Quality Scope Sustainability Risk PRINCE2 process PRINCE2 practices PRINCE2 principles Initiating a project Managing product delivery Starting up a project Directing a Project Manage a stage boundary Controlling a stage Closing a project Processes PRINCE2 project performance aspects There are seven aspects: benefits, costs, time, quality, scope, sustainability, and risk. For each aspect tolerances are to be agreed to facilitate decentralized decision-making.