Prince2 7 Principles May 2026

The project must make sense financially and strategically from start to finish. No blind loyalty to a sunk cost. 2. Learn from Experience (Don't Reinvent the Wheel) The Story: On Day 1, David doesn't start planning. He visits the company's "Lessons Log" from a failed IT project three years ago. He reads: "We failed because we didn't test with real customers until the end."

Maria chooses option 2. David continues. Maria only hears about problems when tolerances are breached. She is not bothered with daily status updates. She manages the project by exception . prince2 7 principles

Three months in, a competitor launches a similar platform. David re-runs the numbers. The original $2M benefit is now only $800k. The project still makes sense, but just barely. He updates the Business Case. At month five, a new technology emerges that would cost an extra $50k but double the speed. David presents this to the board. They agree the extra benefit justifies the cost. The Business Case remains viable until the very end. If it ever became un justified, David would be mandated to stop immediately. The project must make sense financially and strategically

Maria shows him the data: $500k in lost sales last month due to site crashes. David creates a —a living document showing the project will cost $300k but deliver $2M in benefits over two years. Learn from Experience (Don't Reinvent the Wheel) The