PRINCE was established in 1989 by CCTA (the Central Computer and Telecommunications Agency), since renamed the OGC (the Office of Government Commerce). In June 2010, the Office of Government Commerce Best Practice Management functions moved into the Cabinet Office.
PRINCE was originally based on PROMPT, a project management method created by Simpact Systems Ltd in 1975, and adopted by CCTA in 1979 as the standard to be used for all Government information system projects.
When PRINCE was launched in 1989, it effectively superseded PROMPT within Government projects. PRINCE remains in the public domain and copyright is retained by the Crown. PRINCE2 was published in 1996, having been contributed to by a consortium of some 150 European organisations.