Chapter 2: Principles

Question 1

How many PRINCE2 principles are there?

Answer 1

SEVEN 7

Question 2

What are the seven PRINCE2 principles

Answer 2

Ensure continued business justification
Learn from experience
Define roles, responsibilities and relationships
Manage by stages
Manage by exception
Focus on products
Tailor to suit the project

Question 3

The business justification for a project can change over time. True or False?

Answer 3

True

Question 4

How can “learning from experience” be utilized prior to starting the project?

Answer 4

Refer to previous or similar projects if lessons can be applied.
Both internal and external projects can be used for relevant lessons learned.

Question 5

How can “learning from experience” be utilized as the project progresses?

Answer 5

Sharing experiences across the project team - could be via reports and reviews at the end of each stage.

Question 6

How can “learning from experience” be utilized as the project closes?

Answer 6

Share insights gained during the project.

Question 7

A PRINCE2 project has
defined and ——- roles and responsibilities. What is the missing word?

Answer 7

Agreed

Question 8

A Stakeholder can only be an individual? True or False?

Answer 8

False
A Stakeholder can also be a group or organization

Question 9

A PRINCE2 project is planned, monitored and controlled by which principle?

Answer 9

Stage-by-stage

Question 10

What is the definition of Stage?

Answer 10

The section of a project that the project manager is managing on behalf of the project board at any time.

Question 11

The choice of appropriate stages will depend on a number of factors. Give a couple of examples.

Answer 11

Minimizing risk exposure
The size and complexity of the project.
Sector or business policies and standards.
Significant decisions and control points required (often linked to key investment, business or technical decisions)

Question 12

A PRINCE2 project manager has unlimited authority? True or False?

Answer 12

False.
A PRINCE2 project establishes limits of delegated authority by defining tolerances for performance against its plans.

Question 13

What is the definition of tolerance? (In short)

Answer 13

The permissible deviation above and below the plan’s targets without needing to escalate to next level of management.

Question 14

Tolerance is defined against? (The seven performance targets). Name these.

Answer 14

Benefits
Costs
Time
Quality
Scope
Sustanability
Risk

Question 15

A PRINCE2 project focuses on the definition and delivery of products, in particular on which parameters?

Answer 15

User quality expectations
User requirements

Question 16

How many types of products does a PRINCE2 include?

Answer 16

4 FOUR

Question 17

What are the four types of products a PRINCE2 project includes?

Answer 17

Management products (documents, information)
Specialist products ( needed for the user to realize the benefits)
Project product (Total output of the project)
External products ( products developed outside of the project, but on which the project depend)

Question 18

When applying PRINCE2 project management it can be tailored to suit the project? True or False?

Answer 18

True

Question 19

Is it OK to adjust terminology used as part of tailoring the project?

Answer 19

Yes, to match terms used by an organization already for instance.