Prince 2 is a substantial methodology because it involves in its remit the administration of substantial initiatives as properly as smaller ones, but it is completely adjustable to fulfill the desires of unique initiatives, regardless of whether simple or very specialised, incredibly substantial or incredibly compact.
PMBOK stands for the Project Management System of Understanding is printed to determine that subset of the project management entire body of understanding, that is usually regarded as good procedures. It offers a common overview as opposed to an exhaustive description. Very best follow does not indicate that the understanding described really should usually be utilized uniformly in all initiatives. The project team is accountable for analyzing what is proper for any presented project.
If PRINCE2 is popular in Europe, PMBOK is popular in the U.S and the relaxation of the earth. PMBOK is created by the PMI (Project management institute), which is a non gain organization, which helps make and invest good deal of dollars, with head quarters in the U.S and chapters unfold across the world.
PrinceLite is a system that integrates the software package engineering system with the project governance system. PrinceLite is a project shipping and delivery methodology it is not a project management strategy. The main level of PrinceLite is that it is orientated about the business enterprise group it serves the project sponsors (individuals who spend the IT invoice).
PrinceLite is described specially to make it possible for you to produce IT initiatives. It is of no use for development or civil engineering.
Prince2 Lite is a tailored variation of Prince2. In other terms a lite variation of Prince2 with a lite business enterprise circumstance and lite documentation. PRINCE2 Lite is a simplified adaptation for private sector organizations.
For smaller organisations handling smaller initiatives, PRINCE2 is as well intricate and they develop their have simplified variations. These smaller variations are recognised as PRINCE2 Lite and sometimes called PINO (Prince2 In Title Only) as well.