PRINCE2 is one of the most widely-used and popular techniques for managing projects. It was originally designed for use for UK Government IT initiatives. Its application has grown to encompass larger projects of all kinds, and has been used across more countries in both the public and private sectors, such as police forces telecom banks, corporations, police forces and other commercial enterprises. It's also used to implement the enterprise resource management.

PRINCE2 is the abbreviation for the acronym PRINCE2 meaning as Projects in Controlled Environment and it was developed during an era when there was an era in which there was a time when the UK Government was outsourcing an increasing amount the work. In addition, the process is based on best practices in team integration across internal departments and external agencies. To be an certified Prince2 expert, it's suggested to acquire official Prince2 Training is provided by a recognized certification training company like Edureka and then passing the foundation exam.

PRINCE2 takes the process-based method of managing projects, integrating every stage into a set of essential elements that have be employed throughout the whole project. PRINCE2 is focused on the components that are essential to managing projects throughout their entire life cycle to assist project managers. In the ideal situation. PRINCE2 ensures that every stage of the project's development lifecycle is completed on time and within budget by using the appropriate resources.

The PRINCE2 methodology can be utilized with any technique to manage projects. It also offers high-quality reviews for output-driven product-based planning as well as an approach to managing the process of discussing modifications and fix any problems.

The PRINCE2 method has numerous advantages and benefits. Recently, a number of massive IT projects and the government have adopted this method that has brought an enormous benefit for the project due to using PRINCE2. PRINCE2 has been able to project managers to guide projects in the right terminology. It's a continuous, effective, reliable and well-organized process that is adaptable to every project's beginning or middle phases. It is a foundational element to the project, which divides the project into stages, which makes the project simple to manage. This helps the project team to keep an extremely motivated and focused team, and also in getting the desired result within the stipulated time.

Another benefit it gives teams who are working on projects is the improvement of communication between members of the team and other stakeholders. This gives the project to have a greater likelihood of being effectively managed and team members to collaborate without any problems. Stakeholders have the ability to voice their opinions when making decisions because they are regularly informed by regular reports about the project as well as meetings.

PRINCE2 is well-established and proven good practices as well as governance model to manage projects. It could be any type of project, and can be implement in specific industry models including construction, engineering models and IT, as well as finance and business development lifecycles. This is because PRINCE2 plans are created to meet the needs for all levels of managing teams, improving communication and management. Since it is widely regarded as thorough and comprehensive that it allows for an effective communication among the project's participants . It also outlines clearly the project's roles to allow participants to understand their respective responsibilities and obligations and also has a well-established system that limits the delegate of authority among the participants.