Project Management/PRINCE2/Glossary

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PRINCE2
PRINCE2 Pre-Project Initiation stage Delivery stages (usually multiple) Final stage
Directing Starting Up a Project (SU) Directing a Project (DP)
Managing Managing a Stage Boundary (SB) Closing a Project (CP)
Initiating a Project (IP) Controlling a Stage (CS)
Delivering Managing Product Delivery (MP)

Left to right represents time. Top to bottom represents decreasing decision-making power.

Issue
Work Package
Product
An input or output that is created from a Product Description. A product can be tested, and may be tangible or intangible.
Product Description
The description of a product, defining its characteristics, purpose, and quality criteria. Produced as soon as a requirement for a product is agreed upon.
Project