Long established, process driven, Project Management methodology, initially developed by the UK government:

• 1989 - CCTA developed PRINCE as a UK Government standard for managing IT projects

• PRINCE = PRojects IN a Controlled Environment

• 1996 - PRINCE2 released as a generic project management methodology

• Derived from earlier methodologies: PROMPT and PRINCE
  • Became regularly applied outside pure IT, around the world

• 2009 - Revised as PRINCE2:2009 Refresh
  • Updated to reflect newer business models
  • Simpler
  • Lighter