PRINCE2 (an acronym for PRojects IN Controlled Environments) is a de facto process-based method for effective project management. Used extensively by the UK Government, PRINCE2 is also widely recognised and used in the private sector, both in the UK and internationally. The PRINCE2 method is in the public domain, and offers non-proprietorial best practice guidance on project management.
Key features of PRINCE2:
Focus on business justification
Defined organisation structure for the project management team
Product-based planning approach
Emphasis on dividing the project into manageable and controllable stages
Flexibility that can be applied at a level appropriate to the project.