PRINCE2
Project management methodology for governance and control
ISO 37001
International standard for anti-bribery management systems.
Quick Verdict
PRINCE2 provides structured project governance for controlled delivery across industries, while ISO 37001 establishes anti-bribery systems to prevent corruption risks. Organizations adopt PRINCE2 for repeatable success and ISO 37001 for compliance assurance and risk mitigation.
PRINCE2
PRINCE2 7th Edition (Projects IN Controlled Environments)
Key Features
- Exception-based management using tolerances for efficiency
- Staged lifecycle with board decision gates
- Continued business justification throughout project
- Tailoring to suit project scale and context
- Defined roles via project board governance
ISO 37001
ISO 37001 Anti-Bribery Management Systems
Key Features
- Risk-based bribery risk assessment
- Third-party due diligence requirements
- Leadership commitment and compliance function
- Financial and non-financial controls
- PDCA continual improvement cycle
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
PRINCE2 Details
What It Is
PRINCE2 7th Edition (Projects IN Controlled Environments) is a structured project management framework. It provides governance, control, and delivery mechanisms for projects of any scale. The methodology emphasizes principle-based, process-driven approach with continuous practices.
Key Components
- **Three pillars7 Principles (guiding obligations), 7 Practices (business case, organization, plans, quality, risk, issues, progress), 7 Processes (starting up to closing).
- Built on tolerances, stages, and exception management.
- Compliance via certification (Foundation, Practitioner); no mandatory audits.
Why Organizations Use It
- Ensures continued business justification and risk control.
- Reduces executive overhead via manage-by-exception.
- Boosts auditability, repeatability, and success rates.
- Builds stakeholder trust in regulated sectors.
- Enables hybrid agile integration for competitiveness.
Implementation Overview
- Phased: gap analysis, tailoring blueprint, training, pilots, institutionalization.
- Tailor to size/complexity; certification pathways.
- Suits all industries/geographies; scalable for SMEs to enterprises. (178 words)
ISO 37001 Details
What It Is
ISO 37001 is the international standard for Anti-Bribery Management Systems (ABMS), a certifiable framework published in 2016 and revised in 2025. It specifies requirements to prevent, detect, and respond to bribery risks across organizations. The risk-based approach follows the ISO Harmonized Structure (clauses 4-10) aligned with PDCA cycle.
Key Components
- Core pillars: context/risk assessment, leadership/policy, planning, support/training, operational controls (due diligence, financial/non-financial), performance evaluation (audits/monitoring), improvement.
- Built on proportionality to bribery risks; includes 8 control categories like third-party due diligence.
- Optional third-party certification with 3-year cycles and surveillance audits.
Why Organizations Use It
- Mitigates legal risks (FCPA, UK Bribery Act) via evidentiary 'reasonable steps'.
- Drives efficiencies (up to 15% compliance cost reduction), reputational trust, ESG alignment.
- Enables market access, stakeholder confidence in high-risk sectors.
Implementation Overview
- Phased: gap analysis, risk assessment, control design, training, audits.
- Scalable for all sizes/sectors; 6-12 months typical; certification optional but recommended.
Key Differences
| Aspect | PRINCE2 | ISO 37001 |
|---|---|---|
| Scope | Project management governance and delivery | Anti-bribery prevention and management |
| Industry | All sectors worldwide, any size | All sectors worldwide, any size |
| Nature | Voluntary project methodology | Voluntary certifiable management standard |
| Testing | Internal tailoring and audits | Certification audits and surveillance |
| Penalties | No legal penalties | No legal penalties |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about PRINCE2 and ISO 37001
PRINCE2 FAQ
ISO 37001 FAQ
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