PRINCE2 (an acronym for projects in controlled environments, version 2) is a project management methodology. It was developed by the UK government agency Office of Government Commerce (OGC) and is used extensively within the UK government as the de facto project management standard for its public projects. The methodology encompasses the management, control and organisation of a project. PRINCE2 is also used to refer to the training and accreditation of authorised practitioners of the methodology who must undertake accredited qu alifications to obtain certification. alifications to obtain certification.