PRINCE2. It should be noted that the Planning andDirecting processes remain ongoing throughout theproject lifecycle.1. Starting Up:This is done before the initiation ofany project. An idea or request from the organizationis raised in a project mandate. It is here that informa-tion is collected to determine the business case forthe project, the plan for moving forward and theteam that will be responsible for its delivery.2. Initiating:In the initiation phase, the contract willbe arranged between the project manager and proj-ect board, along with the development of a high-level plan and control approach.3. Planning:The technique of product-based plan-ning is used in the identification of project deliver-ables. In addition to the required resources, qualityand testing are addressed. Monitoring and control ofthe progress is also undertaken.4. Controlling a Stage:This is the day-to-day man-agement of the stage by the project manager.Controlled production of the agreed products bymonitoring key indicators allows the project mangerto control the scope and achieve delivery to time,quality and budget.5. Managing Product Delivery:This can be a highlyadministrative area, which defines how the projectwill be delivered to the project manager upon com-pletion.6. Managing Stage Boundaries:Managing the tran-sition to the next stage in a controlled manner byapplying a common structure. Certain items are man-dated to ensure delivery of the project within scope.7. Closing a Project:This process is a structured clo-sure of the project, which must happen whether thedeliverables have been achieved or the project is ter-minated early.8. Directing:The project board proactively managesthe project's response to the external environment.Within the project, the project board should "man-age by exception," so demands on its time are keptto a minimum.PRINCE2 is optimized for product-based planning.Here, the "product" is a result, i.e., the production of adocument at the end of a task. The product falls intoone of two categories:• Management Products are items required to sup-port project management, e.g., a business case, proj-ect scope, quality log, etc.• Specialist Products are items contributing to anidentified deliverable of the project, e.g., a piece ofcode, specification, etc.Ultimately, PRINCE2 helps to provide control and anadaptable method for your business. This is a proven,tailored method for project management, especially inIT.Essentially, PRINCE2 helps PMOs control the chaosof project delivery.Success with PRINCE2 comes from configuring it tomeet your specific needs. PRINCE2 is more prescriptivethan PMBOK and more detailed, therefore configura-tions in process or standards are common. For exam-ple, in some organizations, there might not be a needfor the role of Senior Supplier as outlined in PRINCE2,so users might either rename or re-scope this role.