PRINCE2 is possibly most widely used and renowned project management industry standard in the UK. Prince2 is a process methodology that can used and tailored to organise and run any type of project. Its flexibility and approach to managing projects is based on 4 core and integrated elements:
a. 7 Principles including learning from experience, focus and managing by stages
b. 7 Themes covering different aspects of project management such as quality, risk and change
c. 7 Processes that cover the stages of a project lifecycle such as initiating, controlling, managing and closing a project.
d. Project environment to tailor the method to a specific project environment.
In practical terms, Prince 2 includes process model and templates as well as step by step guidance on how to organise and run a project. It originated in UK but is popular world-wide in both public sector and private sector projects