PRINCE2
Project management methodology for governance and control
ISO 14064
International standard for GHG quantification, reporting, verification
Quick Verdict
PRINCE2 provides structured project governance for controlled delivery across industries, while ISO 14064 specifies GHG emissions accounting and verification for climate reporting. Companies adopt PRINCE2 for reliable project success and ISO 14064 for credible sustainability disclosures.
PRINCE2
PRINCE2 7th Edition (Projects IN Controlled Environments)
Key Features
- Manage by exception using tolerance thresholds
- Manage by stages with board authorizations
- Continued business justification throughout lifecycle
- Tailoring to suit project context
- Defined roles for clear accountability
ISO 14064
ISO 14064: Greenhouse gases standards family
Key Features
- Three-part modular structure for inventories, projects, assurance
- Five principles: relevance, completeness, consistency, transparency, accuracy
- Scope 1-3 emissions classification and boundary setting
- Risk-based validation/verification processes (ISO 14064-3)
- Additionality, baseline, monitoring for project reductions
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
PRINCE2 Details
What It Is
PRINCE2 7th Edition, officially Projects IN Controlled Environments, is a structured project management methodology. It provides governance, control, and delivery across projects of any scale. Core approach emphasizes principles-guided, practice-enabled processes for value delivery.
Key Components
- **Three pillars7 principles (guiding obligations), 7 practices (business case, organizing, plans, quality, risk, issues, progress), 7 processes (starting up to closing).
- **Performance targetstime, cost, quality, scope, benefits, risk, sustainability.
- **CertificationFoundation/Practitioner levels via PeopleCert.
Why Organizations Use It
- Ensures controlled value delivery and exception-based governance.
- Meets audit/compliance needs in public/regulated sectors.
- Reduces risks via staged decisions and tailoring.
- Builds stakeholder trust through clear roles and accountability.
Implementation Overview
- **Phased rolloutgap analysis, tailoring blueprint, training, pilots, institutionalization.
- Applies to all sizes/industries; scalable via tailoring.
- No mandatory audits; focus on certification and internal assurance. (178 words)
ISO 14064 Details
What It Is
ISO 14064 is an international standard family (ISO 14064-1:2018, -2:2019, -3:2019) providing specifications with guidance for GHG emissions quantification, reporting, and verification. It is a modular framework for organizational inventories (Part 1), project-level reductions (Part 2), and validation/verification (Part 3), emphasizing a principles-based approach.
Key Components
- Three interdependent parts covering inventories, projects, and assurance.
- **Five core principlesrelevance, completeness, consistency, transparency, accuracy.
- Scope 1-3 emissions classification, boundary setting, uncertainty management.
- Compliance via third-party verification under Part 3, aligned with ISO 14065.
Why Organizations Use It
- Enables regulatory compliance (e.g., CSRD, SB-253), investor trust, and carbon market access.
- Drives operational improvements, risk mitigation, and competitive differentiation.
- Builds stakeholder confidence through auditable, comparable GHG data.
Implementation Overview
- Phased approach: governance, boundary design, data systems, verification, continuous improvement.
- Applies to all sizes/industries; mid-large organizations typical.
- Involves training, software, and optional certification via accredited verifiers. (178 words)
Key Differences
| Aspect | PRINCE2 | ISO 14064 |
|---|---|---|
| Scope | Project management governance and delivery | GHG emissions quantification and verification |
| Industry | All sectors worldwide, scalable | All sectors with GHG focus, global |
| Nature | Voluntary project management method | Voluntary GHG accounting standard |
| Testing | Certification exams, internal audits | Third-party validation/verification |
| Penalties | No legal penalties, certification loss | No legal penalties, credibility loss |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about PRINCE2 and ISO 14064
PRINCE2 FAQ
ISO 14064 FAQ
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