"Expedients are for the hour, but principles are for the ages." — Henry Ward Beecher
A project is defined to be a PRINCE2 project only if it follows the seven PRINCE2 principles. The processes and practices are there to help us implement these principles. The principles are universal and self-validating — they apply to every project regardless of size, type or industry.
Continued Business Justification
A PRINCE2 project must at any time have continued business justification. There must always be a valid reason for the project to continue — documented in the Business Case.
Learn from Experience
Lessons are sought, recorded and acted upon throughout the life of the project. PRINCE2 project teams learn from previous experience; lessons are applied continuously.
Defined Roles and Responsibilities
Defined and agreed roles and responsibilities with an organization structure that engages the business, user and supplier stakeholder interests.
Manage by Stages
The project must be planned, monitored and controlled on a stage-by-stage basis. Each stage ends with a formal assessment before the next stage is authorized.
Manage by Exception
The project has defined tolerances for each project objective. Delegated authority is given within these tolerances. Exceptions are escalated upward when tolerances are forecast to be exceeded.
Focus on Products
The project must address proper definition and delivery of products and in particular their quality. PRINCE2 is product-based, not activity-based.
Tailor to Suit the Project Context
PRINCE2 is a scalable method. It must be tailored to suit the project context — the organisation type, sector, scale, complexity, and risk profile. Project Context is one of the five integrated elements of PRINCE2 7th edition.
Principles are one of the five integrated elements of PRINCE2 7th edition: People, Principles, Practices, Processes, and Project Context. See PRINCE2 Processes and PRINCE2 Practices for details on the other elements.