The Project Management Body of Knowledge (PMBOK) contains "all those topics, subject areas and intellectual processes that are involved in the application of sound management principles to ...projects" It is an extremely useful reference document detailing nine Knowledge Areas for Project Managers and often forms the basis of generic project management training.

PRINCE2® is a process-based approach to project management consisting of eight processes, eight components and four techniques. PRINCE2® is a non-prescriptive methodology that guides the Project Team step by step through what should be done, by whom and when.

There are benefits in allowing both PMBOK and PRINCE2® to co-exist. PMBOK provides the academic knowledge resource that is useful in enhancing the profession of project management. PRINCE2® provides a useable process model that can be applied directly by project managers and teams from a diverse range of backgrounds to produce consistent project management and project outcomes.