PRINCE2 calls for an accountable Project Board to own the project, helping to ensure their commitment to getting the work completed.  At the same time, the Project Board grants authority to the Project Manger by explicitly committing resources as the project progresses. 

The PMBOK suggests this will happen under certain organizational structures; PRINCE2 believes it can be implemented in most environments.

Plans:  Plans are the backbone of the management information system required for any project, and require the approval and commitment of the appropriate levels of the project organization 

Controls:  Control is about decision making: its purpose is to ensure that the project

a)     is generating the required products which meet defined Acceptance Criteria

b)     is being carried out to schedule and in accordance with its resource and cost plans

c)      remains viable against its Business Case.

Management of Risk:  Risks is an essential part of project management.  To contain risks during the project, they must be managed in a disciplined manner, through risk analysis and risk management (as in the PMBOK)

Quality in a Project Environment:  Quality management ensures that the quality expected by the customer is achieved through a quality system (similar to the PMBOK).  Quality requirements of the project’s deliverables are based in Product Descriptions, prepared by the Project Manager and approved by the Project Board

Configuration Management:  Configuration Management gives the project management team control over the project’s assets (the products that it develops), and is vital to any quality system.  It provides mechanisms for tracking and controlling the project’s deliverables, and a system for tracking project Issues

Change Control is a required part of any complete (ISO 9001-certified) quality management system

Change Control:  Controlling scope change means assessing the impact of potential changes, their importance, cost, impact on the Business Case, and a decision by management on whether or not to include them

Issue Management: Tracking and managing the issues is a vital activity for any project, No project methodology could qualify for “maturity” without an Issue Management process in place  

PRINCE2 is not meant to stand on its own and needs experience and the depth of PMBOK

Ø      Use it for its unique approaches and insights into project management