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PRINCE2 > Lesson 2 > Flashcards

Lesson 2 Flashcards

1
Q

What is a Project ?

  1. ___________ organisation
  2. created for purpose of _____________
  3. according to ____________

General PRINCE2 Concepts

A
  1. temporary
  2. delivering one or more business products
  3. agreed business case
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2
Q

What is Business as usual

General PRINCE2 Concepts

A

In org, maintaining current business operations such as profitability, service quality etc

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3
Q

Why does an org launch projects

General PRINCE2 Concepts

A
  1. to introduce new products or services
  2. to improve current BAU processes
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4
Q

How is a Project different from BAU

General PRINCE2 Concepts

A

Projects introduce change

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5
Q

What are five characteristics of Project that differentiate it from BAU

General PRINCE2 Concepts

A

C U C U T

  1. Change
  2. Temporary
  3. Unique
  4. Cross-functional
  5. Uncertainty
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6
Q

What is the purpose/definition of project management in PRINCE2?

Project Management in PRINCE2

A

Plan
Delegate
Monitor
Control

all aspects of project

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7
Q

What are the six performance targets

A

STC QBR

Scope
Time
Cost
Quality
Benefits
Risk

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8
Q

Purpose of project management

A

1.Specialist work - keep control over specialist work

2.Risks - Manage Risks effectively

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9
Q

who is the customer, and what is their role?

A

Specifies the desired result and is responsible for the project’s mandate, governance, and realizing project benefits.

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10
Q

Who is Supplier in P2

A

who provides resources and skills to deliver the result

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11
Q

Who is referred to as ‘corporate or programme
management or the customer’.

A

organisation that commissions the project

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12
Q

What triggers a PRINCE2 Project and acts as an input ?

A

Project Mandate

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13
Q

What is the responsibility of ‘corporate or programme
management or the customer’.

A

Provide Project Mandate

Govern the Project

Realise Project Benefits

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14
Q

What are the different contexts in which PRINCE2 projects can exist?

Types of Project Contexts

A
  1. Stand-alone projects
  2. Projects within programs
  3. Projects within portfolios
  4. Projects in commercial environments
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15
Q

What is the project context heirarchy

A

Top - Portfolio

Down - Programme, Standalone Project, Sub-portfolio

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16
Q

Definition: Programme

Types of Project Contexts

A

Set of related Projects

17
Q

Sponsor

A

Main driving force behind project

18
Q

Definition: Portfolio

Types of Project Contexts

A

Totality of organisation’s investment to achieve strategic objectives

19
Q

ISO 9001

A

Provides guidelines for activities to ensure consistency (w/o specifying how activity should be carried out)

20
Q

P2

A

provides a set of activities, roles and techniques for undertaking the activities

21
Q

PMBOK

A

what a competent project manager should know

22
Q

Objectives

A

what the project needs to achieve

23
Q

KPIs

A

Measures to track progress toward project objectives, including time, cost, and quality.

24
Q

Leading Indicators

A

Measure progress toward future outcomes

25
Q

Lagging Indicators

A

Measure performance after events (actual vs expected performance)

26
Q

P3M3 (Portfolio, Programme, Project Management Maturity Model) 5-point scale

A

Level 1 : Awareness of process

Level 2 : Repeatable process

Level 3 : Defined process

Level 4 : Managed process

Level 5 : Optimized process

27
Q

Why is tailoring important in PRINCE2?

A

It ensures that P2 can be adapted to organizations’s standards, policies and processes while remaining effective

28
Q

Describe the Waterfall approach in PRINCE2.

A

Sequential steps where each phase must be completed before the next, and the product is delivered at the end of the project.

29
Q

How does PRINCE2 Agile regard Agile methodology?

A

As a family of behaviors, concepts, framework and techniques.

30
Q

What is P3M3, and why is it important?

A

used to assess and improve project management capability.

31
Q

What additional considerations are needed for projects in a commercial environment?

A

Business case, management systems, governance, organization structures, delivery approaches, and corporate culture.

32
Q

Give an example of a project in a commercial environment.

A

Inter-governmental projects, joint ventures, or collaborative research initiatives.

33
Q
A
34
Q

Name a key responsibility of the Project Manager in PRINCE2.

A

To ensure that project activities align with the project plan and to take corrective actions if needed.

PRINCE2 (8 decks)

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