Prince 1 Flashcards
What do we call “projects” that are repeated.
Processes.
Definition of project
A project is a temporary organization that is created for the purpose of delivering one or more business products according to an agreed business case.
What do we call “projects” that go on forever?
Operations.
Administrating a project includes: (4)
Planning, delegating, monitoring and controlling the project.
The role of the project manager is to acheive objectives within: (6)
Time, cost, quality, scope, benefits and risk
What are the five characteristics of a project?
Induces change, temporary, cross-functional, unique, uncertainty.
What is prince?
A generic method for project management.
What are the 7 Prince principles?
1 - Continued business justification 2 - Learn from experience 3 - Defined roles and responsibilities 4 - Manage by stages 5 - Manage by exception 6 - Focus on products 7 - Tailor to suit the project environment
What are the six performance targets?
Timescales, cost, quality, scope, benefits and risk. TeCQuila SoBeR
What are the 4 prince elements?
Principles (there are 7), themes (what must continually be addressed), processes (what products are to be created an when), tailoring.
What is the main objective for the project manager?
Monitoring how well work is going according to the project plan.
Also monitoring the 6 variables.
Also solve issues.
Also speed up project if possible.
Who creates the project mandate?
Someone outside the project team. Someone from the Corporate or Programme Management.
Starting up a project (SU) is a process and has 3 outputs:
- Project brief (contains outline of business case)
- Initiation Stage plan (plan for initial stage)
- Project product description
What is authorize initiation?
The first decision of the project board, whether to allow the initiation stage to start. They ask themselves: Is the project valuable, viable and acheivable.
What is the first stage of a project, and what is the action prior to that stage?
Initiation Stage (requires authorize initiation by the project board).
What are the 6 outputs from the initiation stage?
1 - 4 x strategy documents (risk, quality, configuration, and communication management).
2 - Business case (responsibility by the excecutive)
3 - Project plan
4 - Product descriptions
5 - Project controls
6 - Roles and responsibilities / team structure
One of the outputs from the initiation stage is the business case. What does the business case include?
Overview of risks, benefits, ROI.
What are the objectives of a stage boundary process? (4)
Prepare the following info to the project board: End stage report, update business case and project plan with actuals to date, next stage plan, benefits review plan.
What are the objectives of close project process? (3)
- Update project plan to show what has been delivered and approved.
- Hand over products
- Check if benefits have been realized (benefits review plan)