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Prince 2 Foundations—Ultimate revision edition > 1 : PRINCE2 Introduction > Flashcards

1 : PRINCE2 Introduction Flashcards

This is the Introduction to the Learn Thru Questions podcast. There are about 25 general questions and answers in this podcast. Please note that it is not important that you can answers each question exactly with the exact terms used in this podcast. What is more important is that you understand each answer and will be able understand and answer the multiple-choice questions in the Foundation exam.

1
Q

Who is the Manual “Managing Successful Projects with PRINCE2” designed for?

A

The Manual “Managing Successful Projects with PRINCE2” is designed for:

  • People who wish to learn about project management and PRINCE2
  • Experienced Project Managers who want to learn about PRINCE2
  • And for PRINCE2 practitioners to use as a reference manual
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2
Q

Complete this sentence. “A project is a unique series of actions designed to accomplish a _______.”

A

A project is a unique series of actions designed to accomplish a unique goal within a specific time and cost.

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3
Q

Complete the following definition of PRINCE2: “A project is a temporary organization that is created for the purpose of _______.”

A

A project is a temporary organization that is created for the purpose of delivering one or more business products according to an agreed business case.

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4
Q

What is “A temporary organization”?

A

Projects are temporary by nature. They have a certain start and end date. A project team is put together for the duration of the project and is dissolved at the end of the project.

You can also refer to this project team as a Temporary Organization.

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5
Q

What 4 activities are involved with administering a project?

A

Project Management deals with

  1. planning,
  2. delegating,
  3. monitoring and
  4. control of the project

In other words the administration of the project.

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6
Q

Project Management is the planning, delegating, monitoring and control of all aspects of the project to achieve the project objectives within the expected performance target for …?

A

Project Management is the planning, delegating, monitoring and control of all aspects of the project to achieve the project objectives within the expected performance target for

  1. time,
  2. costs,
  3. quality,
  4. scope,
  5. benefits and
  6. risks.

These are known as the 6 project variables, which are managed throughout the project.

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7
Q

What is meant by the following sentence: “PRINCE2 separates the management layer from the specialist work.”? Explain with an example.

A

PRINCE2 is subject agnostic.
It provides a management layer to take care of decision making like approving the business plan and the project plan and giving authorization for a new stage to start.

The management structure will work in a similar way no matter what the purpose or subject of the project is so it does not matter if the project involves designing a new car, building an airport or it is a software project.

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8
Q

What is meant by the following statement: “PRINCE2 is principle based”?

A

This means that each project should be based on the 7 principles, so you should find the 7 principles in each project.

If one of these is not there, it cannot be considered a PRINCE2 project.

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9
Q

What are the 7 Prince2 principles.

A

There are 7 Prince2 principles:

  1. Continued business justification
  2. Learn from experience or Lessons Learned
  3. Defined roles and responsibilities
  4. Manage by stages
  5. Manage by exception
  6. Focus on Products – clear product descriptions
  7. Tailor to suit the project environment
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10
Q

What are the 6 variables that must be controlled in any project?

A
  1. Cost
  2. Timescale
  3. Quality
  4. Scope
  5. Benefits
  6. Risk.
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11
Q

What is Cost and why does it need to be controlled?

A

Cost is a project variable.

Projects have to give a return on investment, therefore costs need to be controlled and going over budget must be avoided.

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12
Q

What is Scope and why does it need to be controlled?

A

Scope is a project variable.

The project scope needs to be well defined and clear to all stakeholders. Care must be taken by the Project Manager to avoid scope-creep, which is to allow new requirements to be added during the project as this can kill a project.

The definition of everything the project will deliver.
Should also include a definition of out of scope - to ensure stakeholder expectations are managed.

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13
Q

What is quality and why does it need to be controlled?

A

Quality is a project variable.

Quality defines what “good enough” is. The project product must be fit-for-purpose.

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14
Q

What is risk and why does it need to be controlled?

A

Risk is a project variable.

All projects have risks due to uncertainty. These can be threats (negative impact) or opportunities (positive impact) and need to be managed.

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15
Q

What is Timescales and why does it need to be controlled?

A

Timescale is a project variable.

The timescale for the project—when the project product is meant to be delivered.

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16
Q

What are benefits and why do they need to be managed?

A

Benefits are a project variable.

The measurable improvement within BAU because of the project. It needs to be managed to ensure that at the end of the project, the customer can realise them.

17
Q

PRINCE2 is a method that deals with the planning, delegation, monitoring and control of…

A

PRINCE2 is a method that deals with the planning, delegation, monitoring and control of all six-project variables.

Bonus points: The 6 project variables are: Costs, Timescales, Quality, Scope, Risk and Benefits.

18
Q

Name the 4 elements of PRINCE2.

A

PRINCE2 has four integrated elements. These are

  1. Principles
  2. Themes
  3. Processes
  4. Tailoring.
19
Q

Which PRINCE2 element is referred to in the following sentence: “They are the 7 best practices that should exist in each PRINCE2 project.”

A

Principles.

20
Q

Which PRINCE2 element is referred to in the following sentence: “They are the items must be continually addressed during each project. E.g.: Business Case, Organization and Quality”

A

These are the PRINCE2 Themes elements.

21
Q

Which PRINCE2 element is referred to in the following sentence: “This element lists the activities that are done during the project. It lists the products that will be created and when they will be created.”

A

This is the PRINCE2 Processes element.

22
Q

What is meant by the statement “PRINCE2 does not provide Detailed Techniques”?

A

There are many techniques that can be used like Critically Path Analysis or how best to run a brainstorm workshop. PRINCE2 advises to use the techniques which suit your kind of project environment and it only describes a few such as Product based planning and Quality Review techniques.

23
Q

What is meant by the statement, “PRINCE2 does not provide Leadership Capability”?

A

Leadership, Motivational and other soft skills are important for good project management, but there are many different kinds of leadership skills and styles. PRINCE2 advises to choose the best training that suits your environment. So PRINCE2 does not provide Leadership Capability.

24
Q

What are the advantages of using PRINCE2?

A
  1. PRINCE2 has been used for over 30 years in many thousands of projects and PRINCE2 keeps learning from these projects. It is a Best Practice approach to projects.
  2. PRINCE2 can be applied to any kind of project, from running an election, organizing a conference, constructing a bridge, to an IT project and so on.
  3. PRINCE2 provides a structure for roles and accountability.
  4. PRINCE2 is product focused; meaning that the product is well defined at the start of the project and this is made known to all stakeholders.
  5. PRINCE2 uses Management By Exception, for example, it allows the project manager to handle certain project issues but once an issue goes beyond a certain tolerance it can be escalated to the project board.
  6. PRINCE2 continues to look at the viability of the project from a business case point of view throughout the project.
  7. PRINCE2 has a well defined structure for reports.
  8. PRINCE2 promotes learning and a continual improvement mindset.
25
Q

Name one of the first plans that the Project Manager creates in the project which are based on the plan product description found in the Appendix A.16 of the PRINCE2 manual.

A

The first plans are:
1) The Initiation Stage Plan for the Initiation Stage,
2) The Project Plan for the whole project,
3) The Next Stage Plan for the first stage after the Initiation Stage and these are all based on the Plan product description.
The Benefits Review Plan is also created in the IP stage but it is based on the Benefits Review Plan Product description.

26
Q

What is the main objective of a Project Manager?

A

The main objective of the project manager is to see that the project goes according to the project plan.

They constantly monitor how well the work is going according to the project plan.

The Project Manager will also monitor the 6 variables that are part of the any project which are Timescales, Costs, Quality, Scope, Benefits and Risk.

27
Q

Should the Project Manager also try to look for opportunities to speed up the project and reduce costs or ignore these opportunities and just focus on getting the project to run according to the plan?

A

They should look for opportunities to reduce costs and speed up the project.

28
Q

What distinguishes a project from BAU?

A
  1. Change—projects are the means by which we introduce change
  2. Temporary—projects are temporary and have a defined start and end date - whereas BAU is ongoing
  3. Cross-functional—involves people with different skillsets, BAU tends to have a specific skillset related to a business function
  4. Unique—different team, different goal, never exactly the same
  5. Uncertainty—projects carry risk
29
Q

What is a project environment?

A

Prince2 assumes that there is a Customer who specifies the desired results, and a Supplier who provides resources and skills to deliver results.

This is called a Customer Supplier environment

30
Q

Who is Corporate or programme management?

A

The organisation of the customer for the project.

They:

  1. Provide the project’s mandate
  2. Goven the project
  3. Realise the project’s benefits.
31
Q

What are the different types of projects?

A
  1. Standalone—a project that operates outside the governance structure of a programme or portfolio
  2. Part of a programme—which means it is subject to the governance, structure, and reporting requirements set the programme.
  3. Part of a portfolio—which means it is one part of a number of projects that represent the total investment by an organisation to achieve some strategic outcome.
32
Q

What is a programme?

A

A group of related projects which deliver outcomes and benefits related to the organisations strategy.

Bonus point: A portfolio is the totality of an organisations investment in the changes required to achieve its strategic objectives.

33
Q

Why should you tailor your project management approach?

A

Because projects have different scales, organisations involved, geography, and cultures.

In addition, in a complex contract environment, there will be multiple sets of:

  • Reasons for undertaking the project
  • Management systems including project management methods
  • Governance structures
  • Organisation structures
  • Delivery approaches
  • Corporate cultures

Prince 2 Foundations—Ultimate revision edition (24 decks)

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