Anyone may use this methodology, and the manual describing PRINCE2 can be purchased through online booksellers, as well as through the UK government website. PRINCE2 is in the public domain, offering non-proprietary best-practice guidance on project management. It was developed for and is used extensively by the UK government, and is widely used in the private sector, in the UK and internationally. PRINCE2 (short for “PRojects IN Controlled Environments”) is the de facto standard in the UK. Finally, it will suggest how these two project management approaches relate to and can complement each other, and how the PRINCE2 approach can provide added value to a PMBOK ® Guide knowledge base. This paper will provide an overview of the PRINCE2 method and examine the similarities and differences between PMBOK ® Guide and PRINCE2. In the UK and Europe, PRINCE ® is the project management methodology of choice, and is required by the UK government for all projects it commissions. A Guide to the Project Management Body of Knowledge (PMBOK® Guided is the recognized (de facto) standard of project management knowledge.
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