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PRINCE2 6 principle - Manage by stages

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This PRINCE2 principle is comming from FORTUNE 500 companies best practices "how to get maximum profit from each idea". This practice says that company managers should take intermediate decisions during IDEA>PROFIT lifecycle if highest possible profit is true expected outcome.

This principle states - each project must be planned, managed and controled using stages where at the end of each stage decision must be taken and limited authority should be delegated only for approved stage to Project manager.

Decisions between stages must be taken by Project steering comittee where chairman must be single person - Project owner/executive.

It is highly recommended to plan, manage and control project and it's stages using these 6 KPI - scope, time, cost, quality, risk, benefit.

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discussion iconCreated by : Artūras Bučinskas, PRINCE2 Practitioner