Task 1PRINCE2 (acronym for Projects in Controlled Environments, version 2) is a project management methodology. It was developed by the British 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 includes the management, control and organization of a project. PRINCE2 is also used to refer to the training and accreditation of authorized methodology professionals who must achieve accredited qualifications to obtain 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. Starting a project (IP)3. Lead a project (DP)4. One Phase Control (CS)5. Product Delivery Management (MP) (6. Stage Boundary Management (SB)7. Closing a Project (CP)(Wikipedia, 2011)Prince Advantage 2PRINCE2 stands for “Projects in a Controlled Environment”. This adequately describes the most important aspect. PRINCE2 is a structured method for a standard approach of projects where these projects are executed in a controlled environment. This approach will provide the opportunity to increasingly control the different processes and perhaps more importantly to manage them all the risks. Thanks to this approach the project manager is able to control the project from start to finish through the multiple moments of evaluation and decision. Numerous processes are described as managing deviations and the various communication channels between project members , the project and all stakeholders.(2 , nd)Prince Disadvantage 2When...... middle of paper...... http://istqbexamcertification.com/what-is-agile-model-advantages -disadvantages-and-when-to-use- it/ [Accessed October 20, 2013].onlineprince2, nd www.onlineprince2.com. [Online] Available at: http://www.onlineprince2.com/p2nlcom/About-PRINCE2/PRINCE2-Principles-Method [Accessed 1 November 2013].tutorialspoint and www.tutorialspoint.com. [Online] Available at: http://www.tutorialspoint.com/management_concepts/prince2_project_methodology.htm [Accessed 2 November 2013]. Wikipedia, 2011. www.wikipedia.com. [Online] (1) Available at: http://en.wikipedia.org/wiki/PRINCE2 [Accessed 29 October 2013]. Wikipedia, 2011. www.wikipedia.com. [Online] (1.5) Available at: http://en.wikipedia.org/wiki/Agile_development [Accessed 29 October 2013]. Wikipedia, and www.wikipedia.com. [Online] Available at: http://en.wikipedia.org/wiki/Prince2 [Accessed 1 November 2013].