PRINCE2: Project Management Framework
PRINCE2 provides a structured method for managing projects. It defines processes, roles, and controls needed to deliver outcomes within time, cost, and quality constraints.
M_o_R: Risk Management Framework
M_o_R focuses on identifying, assessing, and controlling risks across organizational levels — strategic, programme, project, and operational.
Key Differences
- Scope: PRINCE2 is project-specific; M_o_R applies organization-wide.
- Focus: PRINCE2 aims to deliver project goals; M_o_R aims to minimize threats and maximize opportunities.
- Integration: M_o_R can be applied alongside PRINCE2 to enhance risk visibility and control.
When to Use Both?
In complex projects or programmes, combining PRINCE2 for delivery with M_o_R for risk management leads to better governance and resilience.