A PRINCE2 project has defined characteristics including a finite lifespan, defined business products and activities to achieve them, allocated resources, and an organizational structure. Projects operate within a business context and are temporary, disbanding once work is complete. PRINCE2 outlines management levels from corporate strategy down to delivery teams. The Project Board is responsible for key decision making and direction, while the Project Manager plans and controls day-to-day work. Teams deliver the final products.

1. A PRINCE2 project, therefore, has the following characteristics: ● A finite and defined life span ● Defined and measurable business products ● A corresponding set of activities to achieve the business products ● A defined amount of resources ● An organisation structure, with defined responsibilities, to manage the project. Each project falls within a specific business context. A project may be stand-alone, it may be one in a sequence of related projects or it may form part of a programme or corporate strategy. A project, by its nature, is a temporary structure, created to achieve a specified business benefit or objective. When the work has been completed, the project is disbanded.

3. These management levels are reflected in the PRINCE2 Process model. ● At the highest level is corporate or programme management. While not part of project management as such, this higher management level is important, as it will often set the business context for one or more projects. ● Within the project itself the highest level is Directing a Project (the Project Board work). This level is for key decision making and direction setting. ● At the next level of managing a project a great deal of management effort is expended in day-to-day planning and control, and would largely be handled by the Project Manager. ● The lowest management level, Managing Product Delivery, would be handled by Team Managers.

5. Project management team