PRINCE stands for PROjects IN Controlled Environments.
Prince2 is a structured method for effective project management. It is a process-based approach for project management providing an easily tailored and scalable method the management of all types of projects. The method is the de-facto standard for project management in the UK and is practiced worldwide.
A Potted History of Prince
The method was established by the central computer and telecommunications agency in 1989, originally developed from a project management method created by Simpact Systems in 1975 this was originally known as PROMPTII. Four years later in 1979 it was adopted by the CCTA (know known as the Office of Government Commerce) as the standard used for all government information projects.
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Ten year later, 1989 arrives and PRINCE is born out of the earlier path of Prompt. Prince Development continued and was further refined over the following years. Prince2, as we know it, was born in 1996 with improved guidance on project management aimed at all types of projects, not just information systems.
Hundreds, if not thousands, of project teams have contributed to the organic growth of Prince as the methodology of choice Project Management Teams everywhere: Building on mistakes made, improvements discovered and fine tuning the methodology behind Prince2 has made PRINCE2 the de-facto standard used extensively by the UK government and is widely recognized and used in the private sector, both in the UK and worldwide.
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