Prince2 is a process-based method that is used for effective project management and consists of seven principles. Each PRINCE2 project needs to include ALL of the principles otherwise it cannot be considered to be a PRINCE2 Project. The seven core principles are as follows and together they make up the framework of good project practice for all those involved in a project. 1. Continued Business Justification 2. Defined Roles and Responsibilities 3. Focus on Products 4. Learn from Experience 5. Manage by Exception 6. Manage by Stages 7. Tailor to Suit the Project Environment