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Prince2 Foundations > Foundation 3 > Flashcards

Foundation 3 Flashcards

1
Q

6 aspects of project performance to be managed

A
  1. Costs
  2. TimeScale
  3. Quality
  4. Scope
  5. Risk
  6. Benefits
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2
Q

5 characteristics of a project

A
  1. Change
  2. Temporary
  3. Cross functional
  4. Unique
  5. Uncertainty
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3
Q

4 integrated elements on which Prince 2 is based

A
  1. Principles
  2. Themes
  3. Processes
  4. The Project enviroment
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4
Q

7 Benefits of using Prince2

A
  1. Can be applied to any project
  2. common vocabulary & approach
  3. integrates easily with industry spesific model
  4. ensure management by exception to make efficient use of executive times
  5. ensure focus on the continuing viablity of the project
  6. lots of accredited training and consultancy org
  7. explicit definition of roles and responsiblity
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5
Q

7 Principles

A
  1. Continuos business justification
  2. learn form previous experience
  3. define & agreed roles and responsiblities
  4. management by stages
  5. management by exception
  6. focus on the delivery of products
  7. tailoring of methodology
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6
Q

5 characteristics of a project (detailed)

A

1.Change : projects are the means to introduce changes
2.Temporary : one desired change has been implemented business as usual resume (start & end)
3.Cross functional : projects involve a team of people with different skills working together to introduce a change outside of the team. Often cause strains since each has a different perspective
4.Unique : every project is unique. different team, customer, location
5.Uncertainty : threats & opportunities. More risks.

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7
Q

Definition of a project

A

a temporary organisation that is created for the purpose of delivering one or more business products according to an ageed Business Case

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8
Q

7 themes

A

1.Business Case : why
2.Organisation : who
3.Quality : What
4.Plans : How? How much? When?
5.Risk : what if?
6.Change : what’s the impact
7.Progress : where are we know? Where are we going? Should we carry on?

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9
Q

Purpose of the BC then

A

is to establish mecanism to judge whether the project is (and remains) desirable, viable and achievable as a means to support decision making in its (continued) investment

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10
Q

How the BC supports the continued business justification principle

A

by documenting the business justification in the business case describing the reasons for the project based on estimated cost, risk & expected benefits

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11
Q

Difference between output, outcome & benefit

A

output : any of the project’s specialist products (tangible or not); (ex : New Sales System)
outcome : the result of the change derived from using the project’s output (ex:Sales Order are processed faster)
benefit: measurable improvement resulting from an outcome that is perceived as an advantage by one or more stakeholders (Costs are reduce by 15%)

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12
Q

Purpose of BC & Benefit Review Plan

A

BC: used to document the justification for the undertaking of a project based on the estimated costs against the anticipated benefits to be gained & offset by any associated risks.
BFR : how & when a measurement of the achievement of the project’s benefit, expected by senior user, can be made

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13
Q

Recommanded composition of a BC (9)

A
  1. Exec Summary
  2. Reasons
  3. Business options
  4. Expected benefits
  5. Expected dis-benefits
  6. Timescale
    7.Costs
    8.Investment appraisal
    9.Major risks
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14
Q

Roles in OR

A

Project Board (3)
Executive
Snr User
Snr Supplier
Project Assurance (Business, User & Supplier)
Project Manager
Change Authority
Project Support
Team Managers
Team Members

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15
Q

Purpose of OR theme

A

to define & establish the project structure of accountability & responsability

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16
Q

The purpose of the Organizing practice

A

To define and establish the project’s structure of accountability and responsiblities.

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17
Q

Project team

A

PRINCE2 uses the term project team to cover all people required to allocate their time to the project.

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18
Q

Commercial management approach

A

To describe the procedures, techniques and standards to be applied and the responsiblities for effective commercial management

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19
Q

PRINCE 2 Practices

A
  1. Business Case
  2. Organizing
  3. Quality
  4. Plans
  5. Risk
  6. Issues
  7. Progress
  8. Progress
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20
Q

The purpose of the plans practice

A

To facilitate communication and control by defining the products to be delivered (the “what’) and the means to deliver them (the “who”, The “how”, the “where”, and estimates of the “when” and for “how much”) to satisfy the project business case (the “why”)

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21
Q

Definition of a plan

A

A proposal that outlines the what, where, how and who of the project as a whole ( or a suset of its activites). In PRINCE2, there are the following types of plan: Project plan, stage plan, team plan, and exception plan.

22
Q

Project Plan definition

A

A higg-level plan showing the major products or the project and when, how, and at what cost they will be delivered.

23
Q

Stage Plan definition

A

A detailed plan used as a basis for project management control throughout a stage

24
Q

Team plan definition

A

A plan used as the basis of organizing and controlling the work of a team when executing a work package.

25
7 Product Based planning technique steps
1. Definin and analysing products 2. Organizing work Packages 3. Preparing estimates 4. Preparing scheudle 5. Preparing the budget 6. Analysing risks 7. Document the plan
26
Product Breakdown Structure
The hierarchy of all products to e produced during a plan
27
Project product description
Description of the project's major products or outcomes
28
Product Flow diagram
A diagram showin the sequince of production and interdependencies of the products listed in a product breakdown structure
29
Purpose of the work package description
To describe how one or more products will be produced and delivered.
30
Internal Dependencies
The project team has control over the dependcy between one product and another
31
External Dependencies
A product being produced is dependent on a product outside the scope of the project
32
Defining of a schedule
A graphical representation of a plan, typically describing a sequence of tasks, together with resource allocations, which collectively deliver the plan
33
Definition of time tolerance
The permissible deviation in a plan's time that is allowed before the deviation needs to be escalated to the next level of management
34
Definition of cost tolerence
The permissible deviation in a plan's cost that is allowed beofre it needs to be escalated to the next level of management
35
Definition of scope tolerence
The permissible deviation in a plan's scope that is allowed before it needs to be escalated to the next level of management
36
Definition of qualty
The degree to which a set of inherent characteristics or a product, servide, process, preson, organization, system or resource fulfils requirements
37
Definition of quality management
The coordinated activities to direct and acontrol an organization with regard to qualty
38
Requirement
A need or expectation that is documented in an approved management product
39
User's qualty expectations
A statement about the quality expected from the project product, captured in the project product description
40
Acceptance criteria
A prioritized list of criteria that the project product must meet before the user will accept it. For example, measurable definitions of the attributes required tfor the set of products to be acceptable to key stakeholders.
41
Quality assurance
Planned and systematic activities that provides confidence that products will meet their defined quality specifications when tested under quality control. Quality assurance is typically a funtion managed independently from the project team
42
Product register
A component of the project log that identifies the products to be deliverd by the project and records their acceptance
43
Quality register
A component of the project log that identifies all the quality control activities that are planned or have occurred and provides infomraiton for the end stage reports and the end project report
44
Quality contro
The procedures to monitor the specific products of a project and their development or delivery activities to determin whether they comply with relevant standards and of identifying ways to minmize causes of unsatisfactory perfromance
45
Risk
An uncertain event, should it occur,, will affect the achievement of objectives. Its consists of a combination of the probablility of a precieved treat or opportunity occuring, and the magnitude of its impact on objectives
46
Threat
A risk that has a negative impact
47
Opportunity
A risk that has a positive impact
48
Risk Management
The systematic application of procedures to the tasks of identifying and asseing risks, and then planning and implementing risk responses.
49
Risk Appetite
The amount and type of risk tht the business is willing to take in pursuit of its objectives
50
Risk Exposure
The degree to which a particular objective is 'at risk' . Risk exposure is a neutral concept, as exposure can be positive or negative.

Prince2 Foundations (8 decks)

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