For a long period of time I have been using (or I have tried to use) the MSF and I am quite used to it. Of course, there had to be some compromises each time and it was never the pure implementation. For example just once I had the situation where there was the true separation of the project and product manager roles.
Nevertheless at my current position, there is a strong rule across the whole department to use the Prince2 methodology. This type of situation, common and strong support from top executives, does not happen often. I am currently on my learning curve of the methodology and I must admit that only things, which you do not know scares you. Furthermore, it seems to be a good fit to treat a Prince2 as a general flow of documents on higher, execuitve level, where written documents are necessary to take some serious, strategic decisions and MSF as a parallel, technological flow on a tactical level.
The main flow of the Prince2 is more-or-less as follows:
- [DOC] Project Mandate
- [PROC] Starting up a project (SU)
- [DOC] Project brief
- [PROC] Directing a project (DP)
- [PROC] Initiating a project (IP)
- [DOC] Project Initiation Document
- [PROC] Directing a project (DP)
- Stages after stage
- [PROC] Closing a project (CP)
- [DOC] End Project Report
DOC : Document
PROC : Process
There can be any number of stages, one after the other
Stage is in fact the mixture of the four processes: Controlling a stage (SG), Planning (PL), Managing Product Deliver (MP) and Managing Stage Boundaries (SB), but to simpfly these things I called the thing Stage.

At the end of the whole project the deliverables (work packages) provided by MSF, should be checked within the Prince2 Controlling A Stage (SG) process or Closing a project (CP). This double checks that final result goes along with expected and defined within Project Initiation Document.
Assuming the business case of the big company A, which request the delivery of the big software product X and a smaller company B, which is a pure software house. The company A may use Prince2 and company B the MSF, without bigger problems in communication. Actually Prince2 itself predicts that company B may use different methodology (not Prince2) and it is a main purpose of the whole Managing Products Delivery (MP) process.
Furthermore the whole concept is not new, when we speak about Prince2 and RUP (I really found the link after writing the first version of this document) ;)
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