Every PRINCE2 project has these six characteristics, which the project manager tracks as the project progresses. Some of them link directly to key PRINCE2 principles (which we explain in the next section), while others are just important information for your team to know as they progress through the project. Here are six aspects that you'll find in every PRINCE2 project.
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Project Scope: This clearly outlines what goals, deadlines, and project deliverables your project is working towards.
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Costs: This is how much money your project will cost. The goal is to calculate this as close as you can to prevent going over your project budget.
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Timescales: This is the amount of time your project will take to complete. PRINCE2 projects typically have a set deadline created by the project board. Timescales help team members by giving them an estimated timeline to complete each task.
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Risk: There’s inherent risk with every project because we can’t control everything. Part of PRINCE2 includes establishing a risk management process to proactively identify what risks your team may encounter and mitigate any issues.
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Quality: In PRINCE2, it's necessary to create a quality register, or something that clearly defines the standards of production for all deliverables. This ensures that the final deliverable meets your team’s highest standards and satisfies customer expectations.
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Benefits: PRINCE2 requires that every project has a clear business justification. This is similar to a project charter, but the requirements all depend on what your project board wants to see before approving the project.
