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Prince2 Foundations > Foundation 8 > Flashcards

Foundation 8 Flashcards

1
Q

Purpose of the Issues Practice

A

To collect and assess issues and control changes to the project’s baseline

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2
Q

Project Baseline

A

The current approved version of the management products and project products that are subject to change control

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3
Q

Change

A

A change is defined as a modification to any of the approved management products that constitute the project baseline

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4
Q

Issue

A

An event relevant to the project that requires project management consideration

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5
Q

Change Control

A

Describes how changes to the project baseline are controlled.

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6
Q

Request for change

A

A proposal for a change to the baseline (A request to change what we have previously agreed in the baselined management product)

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7
Q

Off-Specification

A

A product that will not meet its quality specifications (Something that is delivered but that isn’t right)

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8
Q

Problem or concern

A

A problem is an issue with an immediate and negative impact. A concern is an issue whose timeliness and impact needs to be assessed.

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9
Q

Event external to a project

A

How issues are identified, captured, assessed, and recommended for resolution. ( Example a supplier going out of buisness which has an impact on the project)

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10
Q

Business Opportunity

A

An issue that represents unanticipated positive consequinces for the project or user organization

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11
Q

Event-driven controls

A

A control that occurs when a specific event occurs. For example, this could be the end of a stage, the completion of the project initiation documentation, or the creation of an exception report. It could also include organizational events that may affect the project, such as the end of the financial year.

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12
Q

Time-driven controls

A

A management control that occurs at predefined periodic intervals. For example, the pm could be producing highlight reports for the Project Board or checkpoint reports showing the progress of a work package

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13
Q

Purpose of the Progress Practice

A

To establish a mechanism to monitor and compare actual achievements against those planned, to provide a forecast for the project objectives and continue viability, and control any deviations causing an exception.

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14
Q

Progress

A

The measure of the achievement of the objectives of a plan

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15
Q

Tolerence

A

The premissible deviation above and below the plan’s target for benefits, cost, time, quality scope, sustainability, and risk without needing to escalate the deviation to the next level of management. Tolerance is applied at project, stage, and team levels.

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16
Q

Forecast

A

A prediction made by studying historical data and past patterns

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17
Q

Exception

A

A situation where it can be forecast that there will be a deviation beyond the tolerence levels agreed between the project manager and the project board( or between the project board and the business layer)

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18
Q

GIGO

A

Garbage in, Garbage out

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19
Q

Definition of a lesson

A

A lesson is information to facilitate the future of the project or other projects, and actively promote learning from experience. The experience may be positive, as in a successful test or outcome, or negative, as in a mishap or failure.

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20
Q

Data analytics

A

The means of using and analysing data to support effective decision-making or to bring efficiency through the automation of tasks

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21
Q

Digital and data management Purpose

A

To desciibe how digital technology will be used to support project work. To Describe how data and information will be created, used, and managed across the project ecosystem and through the project lifecycle and afterwards.

22
Q

Starting up a project

A

SU has 7 processes & 8 activities

23
Q

Initiating a Project

A

Establish solid foundation for the project enabling the business to understand the work that needs to be done to deliver the project product before committing to any significant expenditures or resources.
IP has 10 processes & 7 activities

24
Q

Controlling a stage

A

To assign work to be done, monitor such work, handle issues as they arise, report progress to the Project Board and take corrective actions to ensure that the stage remains within the tolerance set by the Project Board

25
Managing product delivery
Control the link between the Project Manager and the Team Manager or Managers, by agreeing the requirements for acceptance, executing, reporting and delivery of specialist products
26
Managing a stage boundary
Enables the Project Manager to Provide the Project Board with sufficient information to be able to: Review the success of the current stage Approve the next stage plan Review the updated project plan Confirm the continue business justification and acceptablility of risks
27
Closing a Project Process
Closing a project is planned as part of the planning for the final stage of the project
28
Directing a Project Process
To enable the Project Board to be accountable for the project's success by making key decisions and exercising overall control while delegating the project's day-to-day management to the Project Manager
29
PRINCE2 defines a project as
a temporary organisation that is created for the purpose of delivering one or more business products according to an ageed Business Case
30
Definition of a programme
A group of interrelated related projects which progressively deliver outcomes of benefit to the businesses' objectives
31
Definition of a portfolio
The totality of an organization's investment in the changes required to achieve its strategic objectives
32
Customer
Only used when there is a commerical relationship
33
7 PRINCE2 Principles
1. Ensure continued business justification 2. Learn from experience 3. Define roles, responsibilities and relationships 4. Manage by stages 5. Manage by exception 6. Focus on products 7. Tailor to suit the project
34
Stakeholders
Those who can affect, or be affected by, or perceive themselves to be affected by the project Any individual, group or organization that can affect or be affected by (or perceives itself to be affected by) the project
35
Stage
The section of a project the Project Manager is managing on behalf of the Project Board at any one time
36
Definition of a product
An input or output, whether tangible or intangible, that can be described in advance , created and tested.
37
Process
The set of activities which define the sequence of action and their inputs and outputs to achieve a specific objective
38
Organizational Ecosystem
The internal elements of an organization(including staff, board, owners, and other stakeholders) together with the organization's external relationships such as customers, partners, suppliers, regulators and competitors
39
Project ecosystem
Those elements of the business involved in or directly impacted by the project and the associated users and suppliers
40
Culture
A set of shared attitudes, values, goals and ways of working that characterize a group of people
41
Change management
Change management is the means by which an organization transitions from the current state to the target state
42
Collaboration
People from across the project ecosystem working together to achieve the project's objectives
43
Leadership
Motivating people to achieve a project's objectives. On projects, the best done through collaboration across the project ecosystem, persuading, influencing and co-creating with a focus on managing key releationsips and seeking regular feedback to ensure team members remain aligned to the project's objectives and agree to joint ways of working.
44
Management
Instructing the execution of tasks in line with agreed ways of working. Co-creating ways of working with project team members (and stakeholders) significantly improves people's willingness to be managed in line with them
45
Definition of co-creation
A spesific form of collaboration involving users and key influencers in the design of products and agreed ways of working to ensure they are adopted by the project and organizational ecosystems
46
Culture intelligence
The capability to relate and work across cultures within the organizational ecosystem
47
Ensure continued business justification
Any project should be driven and underpinned by a viable business case
48
Output
The tangible, or intangible deliverable of an activity
49
Outcomes
the result of change
50
Benefits
The measurable improvement resulting from an outcome perceived as an advantage by the investing, or commisioning, organization

Prince2 Foundations (8 decks)

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