Prince 2 Flashcards
Define what the business case is
The Business Case gathers the information to allow the management judge if a project is desirable, viable and achievable
Who are the 3 primary stakeholders according to prince2? (As part of ‘Defined roles and responsibilities’.
(Business Sponsors, Users, Suppliers)
Business sponsors are those who make sure the project delivers value for money.
Users will use the products once created, so they receive the benefits.
Suppliers provide the resources and expertise to the project and produce the products.
In Primary Stakeholders, Who are business sponsors?
Business sponsors are those who make sure the project delivers value for money.
In Primary Stakeholders, Who are Users?
Users will use the products once created, so they receive the benefits.
In Primary Stakeholders, who are suppliers?
Suppliers provide the resources and expertise to the project and produce the products.
Who is in a Prince 2 project board?
Executive, the business-oriented person who’s ultimately responsible for the project
Senior User, one or more people who represent the final users’ requirements in the board
Senior Supplier, one or more people who represent the interests of the suppliers
List the 7 Prince 2 Core Principals
- Continued Business Justification
- Defined Roles and Responsibilities
- Focus on products
- Learn from Experience
- Manage by Exception
- Manage by Stages
- Tailor to suit the project environment
What does the core principal, ‘Continued Business Justification’ mean?
Each project must have a Business Case. This means that the reason for the project makes sense and there must be a clear return on investment.
What does the core principal ‘Defined Roles and Responsibilities’ mean?
PRINCE2 states that a project should have defined and agreed roles and responsibilities within an organization structure that engages the Business, User and Supplier Stakeholder interests.
A good Project Management structure answers the questions “What is expected of me?”, “What can I expect from others?”, and “Who makes what decisions?”
What does the core principal ‘Focus on Products’ mean?
The Focus on Products principle states that a Product Description should be written as soon and as clear as possible in the project, so that all stakeholders will have a clear idea of what to expect.
What does the core principal ‘Learn from Experience’ mean?
“Learn from experience” covers the full lifetime of the project, from Starting up a Project , as the project progresses until the project closes. Any lesson learned during the project should be documented (in the Lessons Log ). Documented lessons should be passed on so they are available for future projects.
PRINCE2 also states that it is the responsibility of everyone involved with the project to seek lessons learned rather than waiting for someone else to provide them.
What does the core principal ‘Manage by Exception’ mean?
Manage by Exception provides the above management layer with a system to manage and control the lower management layer, and they don’t need to be bothered by each small issue.
The layer below should only notify the above management layer if there is a big issue that is outside their tolerance. The PRINCE2 name for a big issue is Exception, which means the issue is outside the agreed tolerance.
Prince 2 lists 6 tolerances which can be set, what are they?
Time Cost Quality Scope Risk Benefit
What does the core principal ‘Manage by Stages’ mean?
A Prince2 Project is completed in manageable chunks called management stages. A PRINCE2 Project is planned, monitored and controlled on a stage-by-stage basis. These Management Stages are separated by Decision Points (also known as “Control Points”) by the Project Board.
What is the minimum amount of stages for a Prince2 project?
There are a minimum of two management stages in a project: the Initiation Stage and one further Management Stage. The Closing a Project process is then the last part of the 2nd Stage in a two-stage project.
