Task 1PRINCE2 (an acronym for Projects in Controlled Environments, version 2) is a project management methodology. It was developed by the UK government agency Office of Government Commerce (OGC) and is used widely within the UK government as the de facto project management standard for its public projects. The methodology encompasses the management, control and organization of a project. PRINCE2 is also used to refer to the training and accreditation of authorized practitioners of the methodology who must complete accredited qualifications to achieve certification. • Product based planning • Change control technique • Quality review technique (Wikipedia, 2011) Process of this methodology The seven processes are:1. Starting a project (SU)2. Launch a project (IP)3. Lead a project (DP)4. Controlling a scene (CS)5. Product Delivery Management (PM) (6. Milestone Boundary Management (SB)7. Project Closure (CP) (Wikipedia, 2011)Prince Advantage 2PRINCE2 stands for “Projects in a Controlled Environment”. This describes adequately the most important aspect. PRINCE2 is a structured method for a standard approach to projects by which these projects are executed in a controlled environment. This approach will offer the possibility of increasing control over the different processes and perhaps. even more important to manage all risks. approach, the project manager is able to control the project from start to finish through the multiple moments of evaluation and decision Many processes are described as how to manage variances. and the different communication channels between the project members, the project and all stakeholders.(2, nd)Disadvantage of the prince 2When ...... middle of paper ...... http://istqbexamcertification. com/what-is-agile-model-advantages-disadvantages-and-when-to-use-it/ [Accessed October 20, 2013].onlineprince2, and www.onlineprince2.com. [Online] Available at: http://www.onlineprince2.com/p2nlcom/About-PRINCE2/PRINCE2-Principles-Method [Accessed November 1, 2013].tutorialspoint, and www.tutorialspoint.com. [Online] Available at: http://www.tutorialspoint.com/management_concepts/prince2_project_methodology.htm [Accessed November 2, 2013]. Wikipedia, 2011. www.wikipedia.com. [Online] (1) Available at: http://en.wikipedia.org/wiki/PRINCE2 [Accessed October 29, 2013]. Wikipedia, 2011. www.wikipedia.com. [Online] (1.5) Available at: http://en.wikipedia.org/wiki/Agile_development [Accessed October 29, 2013].Wikipedia, and www.wikipedia.com. [Online] Available at: http://en.wikipedia.org/wiki/Prince2 [Accessed November 1 2013].