Prince2

Prince2 is a methodology, whereas Copper is a toolset. You can use Copper to facilitate any Prince2 based project portfolio, here's how:

Taken from
http://en.wikipedia.org/wiki/PRINCE2

Starting up a project
In this process the project team is appointed and a project brief (describing, in outline, what the project is attempting to achieve and the business justification for doing so) is prepared. In addition the overall approach to be taken is decided and the next stage of the project is planned. Once this work is done, the project board is asked to authorize the next stage, that of initiating the project.
Key activities include: appointing an executive and a project manager; designing and appointing a project management team; preparing a project brief; defining the project approach; and planning the next stage (initiation).

Copper Fits...by allowing you to outline your project in the project description field, allocate your key project resources, and setting the project to 'In Planning'when you kick off. You can also copy project templates if you have a related/previous project that suits.

Initiating a project
This process builds on the work of the start up process, and the project brief is augmented to form a Business case. The approach taken to ensure quality on the project is agreed together with the overall approach to controlling the project itself (project controls). Project files are also created as is an overall plan for the project. A plan for the next stage of the project is also created. The resultant information can be put before the project board for them to authorize the project itself.
Key activities include: planning quality; planning a project; refining the business case and risks; setting up project controls; setting up project files; and assembling a Project Initiation Document.

Copper Fits...by allowing you to create simple or complex project plans in either the project view, or the drag/drop project Gantt timeline. Again when the project is ready to go you can set its status to 'In Progress'. You can also upload any supporting documentation via Copper's file upload facility

Directing a project
This process dictates how the Project Board (which comprises such roles as the executive sponsor or project sponsor) should control the overall project. As mentioned above, the project board can authorise an initiation stage and can also authorize a project. Directing a Project also dictates how the project board should authorize a stage plan, including any stage plan that replaces an existing stage plan due to slippage or other unforeseen circumstances. Also covered is the way in which the board can give ad hoc direction to a project and the way in which a project should be closed down.
Key activities include: authorising initiation; authorising a project; authorising a stage or exception plan; giving ad-hoc direction; and confirming project closure.

Copper Fits...by allowing the project manager to estimate the required hours for each task, allocate resources to these tasks and 'commit' their actual time in order to give that task the resources it needs to meet the estimation. Then Copper allows the review of project stages and task progress via the resource timeline, project timeline (gantt), and running commentaries that these resources are logging. This logging gives everyone a detailed picture of how complete each task is, where the roadblocks are, and provides for adhoc management/review of each task.

Controlling a stage
PRINCE2 suggests that projects should be broken down into stages and these sub-processes dictate how each individual stage should be controlled. Most fundamentally this includes the way in which work packages are authorised and received. It also specifies the way in which progress should be monitored and how the highlights of the progress should be reported to the project board. A means for capturing and assessing project issues is suggested together with the way in which corrective action should be taken. It also lays down the method by which certain project issues should be escalated to the project board.
Key activities include: authorising work package; assessing progress; capturing and examining project issues; reviewing stage status; reporting highlights; taking corrective action; escalating project issues; and receiving a completed work package.

Copper Fits...as per above each stage/task can be intimately tracked by both project managers and project participants. Each task can have an urgency set, can have its % complete set, and resourcing can be adjusted to suit requirements. The running commentary provides a humanistic review of where the task and project is at, and tasks can be marked as issues for the team to resolve

Managing stage boundaries
The Controlling a Stage process dictates what should be done within a stage, Managing Stage Boundaries (SB) dictates what should be done towards the end of a stage. Most obviously, the next stage should be planned and the overall project plan, risk log and business case amended as necessary. The process also covers what should be done for a stage that has gone outside its tolerance levels. Finally, the process dictates how the end of the stage should be reported.
Key activities include: planning a stage; updating a project plan; updating a project business case; updating the risk log; reporting stage end; and producing an exception plan.

Copper Fits...by allowing you to create subtasks, milestones, or indeed setting up entire projects at 'stages'. The hierarchy is up to you. However, as a general rule, creating a neat hierarchy of tasks provides a good breakdown of how a project will be undertaken, including milestones for review/reporting, and the ownership of these tasks.

Closing a project
This covers the things that should be done at the end of a project. The project should be formally de-commissioned (and resources freed up for allocation to other activities), follow on actions should be identified and the project itself be formally evaluated.
Key activities include: decommissioning a project; identifying follow-on actions; and project evaluation review.

Copper Fits...by allowing you to create an end milestone task which would include the requirements your organization has for the completion of the project. Again this project may be used as a template for future similar projects, which serves to be a self-improving mechanism for your organization. When a project is completed all tasks within it will be subjectively set to 100% and the project will itself be shown as 100% complete. At this point your team can archive it and move on to the next round of work.

I hope this helps!!