7 Principles Flashcards
What are the two questions PRINCE2 asked during its development?
• Why did this project succeed?
• Why did this project fail?
What shaped PRINCE2’s development?
The commonality found within the projects studied.
How do the best practices of PRINCE2 impact project success?
Projects that had the 7 key principles tended to be more successful and less likely to fail.
What is the first principle of PRINCE2?
Continued business justification
What is the second principle of PRINCE2?
Learn from experience
What is the third principle of PRINCE2?
Defined roles and responsibilities
What is the fourth principle of PRINCE2?
Manage by stages
What is the fifth principle of PRINCE2?
Manage by exception
What is the sixth principle of PRINCE2?
Focus on products
What is the seventh principle of PRINCE2?
Tailor to suit the project
What must a project always remain according to PRINCE2?
Desirable, viable, and achievable
What is the first consideration when assessing project implementation?
Is there a positive balance of benefits, costs, and risks?
This question helps determine if the project is worth pursuing based on its potential outcomes.
How can teams learn from mistakes in projects?
Collect reports of the lessons learned from previous projects and generate reports during the project.
Learning from experience is crucial for continuous improvement in project management.
What should be provided for all team members in a project?
Terms of reference and role descriptions.
Clearly defined roles help ensure accountability and clarity in responsibilities.
What is essential for each team member regarding their role?
Each team member has the correct level of authority to perform their role.
Authority is necessary for effective decision-making and task execution.
What is the benefit of managing a project by stages?
It is more accurate to plan by stages.
Stage-based management allows for better control and assessment at each phase of the project.
What aspects should be agreed upon at each stage break?
- How much will it cost?
- How long will it take?
Clear agreements at stage breaks help set realistic expectations and resources.
What does ‘manage by exception’ mean?
Only significant deviations from a budget or approved plan are brought to the attention of management.
This approach allows management to focus on critical issues rather than routine matters.
What is the focus of PRINCE2® project management?
Successfully delivered products lead to the project’s benefits being realized.
The end goal of project management is to ensure that the products deliver the intended value.
How is PRINCE2® described in terms of adaptability?
PRINCE2® is highly adaptable specifically to each and every project.
This adaptability is crucial since projects occur in different contexts.
What contexts can affect project management?
- Culturally
- Geographically
Understanding these contexts is essential for tailoring project management strategies effectively.
