PRINCE2 Flashcards
What are the seven PRINCE2 principles are?
- Continued business justification
- Learn from experience
- Defined roles and responsibilities
- Manage by stages
- Manage by exception
- Focus on products (specialist products and management products)
- Tailor to suit the project
What are the seven PRINCE themes?
- Business case (the why)
- Organisation (the who)
- Quality (the what)
- Plans (the how, how much and when)
- Risk (what if?)
- Change (whats the impact?)
- Progress (where are we now and where are we going?)
What are the Seven Prince Processes?
- Starting up a project
- Initiating a project
- Controlling a stage
- Managing product delivery
- Managing A Stage Boundary
- Choosing a project
- Directing a project
What are the 10 categories of a project product description?
- Title
- Purpose
- Composition
- Derivation
- Development skills required
- Customer quality expectation
- Acceptance criteria
- Project level quality tolerances
- Acceptance method
- Acceptance responsibilities
What is the most significant management product, and 6 examples of what it includes
Project initiation documentation (PID), which includes:
- Business case
- Project plan
- Quality management approach
- Change control approach
- Risk management approach
- Communication management approach
What are management products?
Documents produced to facilitate project management
What is the purpose of the business case theme?
to establish mechanisms to judge whether the project is, and remains, desirable, viable and achievable as a means to support decision making in it’s continued investment.
What two products are produced and maintained in the business case theme?
- Business case (costs, benefits, expected dis-benefits, risks and timescales against which viability is justified and continuing
viability is tested - Benefits management approach (defines the management actions to ensure outcomes are achieved and confirm
benefits are realised)
What is a Business case and what does it involve?
A management product of the business case theme.
It involves costs, benefits, expected dis-benefits, risks and timescales against which viability is justified and continuing viability is tested
What is the benefits management approach and what theme is it a management product of?
The business case theme
It defines the management actions to ensure outcomes are achieved and confirm benefits are realised
What is the purpose of the organisation theme?
To define and establish the projects structure of accountability and responsibilities that engages business, user and supplier stakeholder interests.
What are the 3 things the organisation theme needs to do to be PRINCE2?
- Define structure and roles
- Document rules delegating change authority
- Define the approach to communicating and engaging with stakeholders
Who is responsible for commissioning the project, identifying the executive and defining the project-level intolerances?
Corporate, programme management or customer
Who is responsible for the overall direction and management of the project within the constraints set out by corporate, programme management or the customer?
The project board
What level of management within the project management structure is accountable for the success of the project?
The project board
What level of management within the project management structure, (1) approves all major plans and resources, (2) authorises any deviation (3) approves the completion of each management stage and authorises the start of the next management stage and (4) communicates with other stakeholders?
The project board
Who is responsible for day to day management of the project within the constraints set by the project board?
The project manager
Who has the prime responsibility o ensure the project produces the required products in accordance with the time, cost, quality, scope, benefits and risk performance goals?
The project manager
Who has the prime responsibility o ensure the project produces the required products in accordance with the time, cost, quality, scope, benefits and risk performance goals?
The project manager
Who is responsible for delivering the projects products?
The team members/team manager
Who has the authority and responsibility for planning the creation of the products and managing a team of specialists to produce those products?
The team manager
The team manager
What are the management products of the Quality theme?
- Project product description
- Product descriptions
- Quality management approach
- Quality register
What are the management products of the Plans Theme?
- Project plans
- Stage plans
- Team plans
- Product descriptions
- Exception plans
What are the management products that come from the Risk Theme?
- Risk management approach
2. Risk register
Define a risk, and the 2 types of risk
A risk is an uncertain event that may or may not happen, that can have an effect on the achievement of objectives
- threat
- opportunity
What are the management products of the change theme?
- Issue report
- Issue register
- Change control approach
What are the three issues that the change theme covers?
- An off-specification
- A request for change
- General problem or concern
What are the management products of the progress theme?
- Highlight report
- Checkpoint report
- Exception report
What is an issue report, and what is it a management product of?
A description of one individual issue
Change theme
What is an issue register and what is it a management product of?
A register of all formal issues, past and current. Cross-references to the relevant issue reports.
Opened in initiating a project and maintained throughout project
Change theme
What is the change control report, and what is it a management product of?
Details how changes and issues will be managed including levels of authorisation and change budgets
Details how the differing versions of products will be stored and managed.
Naming conventions and access arrangements
It is a product of the Change theme
What is a highlight report, who creates it and gives to to whom? What is it a management product of?
It is a regular status report
Sent from the project manager to the project board
It is a product of the Progress theme
What is a checkpoint report, who creates it and gives it to whom, what is it a management product of?
A regular status report sent from TL to PM. It is a product of the progress theme
What is an exception report, who makes it and gives it to whom, and when. What is it a management product of?
A report that is raised when the PM forecasts that targets will not be met within tolerance. Made by PM, sent to PB and it is a product of the progress theme
What is a risk management approach, when is it created and updated, and what is it a product of?
It defines how risks will be managed
it is created in Initiating a project and is updated in managing a stage boundary
product of the risk theme
What is a risk register, when is it created and updated, and what is it a product of?
It is a register of all project risks and their current status.
it is created in initiating a project and is maintained throughout
It is a product of the risk theme
What is the purpose of the Risk theme?
It is to identify, assess and control uncertainty and improve that ability of the project to succeed
It provides a structured approach to the identification, evaluation and management of risks
What are the six options that come with a threat in the risk theme?
- avoid
- reduce
- transfer
- shared
- accept
- prepare contingent plans
What are the 6 options with opportunities in the risk theme?
- exploit
- enhance
- transfer
- share
- accept
- prepare contingent plans
What is a project plan/what does it include, what is it used for, when is it created and updated, and what is it a product of?
Provides planned project costs, times and identifies management stages. It is used as a baseline to monitor the project progress
Created in initiating a project and it is updated in managing a stage boundary
It is a product of the plans theme
What is a stage plan, what is it used for, when is it created and updated, and what is it a product of?
Is required for each management stage. Covers a shorter time period in greater detail than the project plan.
i.e ‘initiation stage plan’
They are produced near the end of the current management stage when preparing the next management stage
A product of the plans theme
What is a team plan, when is it created and what is it a product of?
Created in the process of managing product delivery but usually done at the same time as the creation of stage plan. Product of the plans theme
What is a product description, and what it is a product of?
It is detailed descriptions of each product to be produced, including purpose, composition and information about quality criteria and how it will be checked to meet this criteria.
It is a product of the plans theme AND quality theme
includes quality criteria, quality tolerance, quality skills required and approvers/reviewers
What is an exception plan and what is it a product of?
Draft changes or replacements of stage and/or project plans that need approval to become new stage/project plans
Product of plans theme
What is the project product description and what is it a product of?
Contains the customer quality expectations and acceptance criteria
A product of the quality theme
What is the quality management approach and what is it a product of?
How will the quality be achieved throughout the project
A product of the quality theme
What is the quality register and what is it a product of?
Summarises all quality control activities that are planned or have taken place. It is a product of the quality theme
What is the purpose of the quality theme
To define and implement the means by which the project will verify products that are fit for purpose
What is the project management team structure and what is it a product of?
It is a temporary organisation that exists for the life of the project.
- The Project Board (senior user, executive, senior suppliers)
- The Project Manager (can act as change authority if the PB decides)
- Project Assurance (assist to check the project is being managed properly)
- Change Authority
- Project support (admin for PM and TL)
- Team Managers (specialist manager)
A product of the organisation theme
What is the communication management approach and what is it a product of?
How communications with stakeholders will be managed
Product of the organisation theme
What are project stages and how many should you have?
These are stages in which the project can be managed in smaller chunks, allowing sign-off to occur between stages.
A project needs 2 or more
Starting up stage Initiation stage (initiate the project, manage stage boundary) Delivery stage(s) (controlling a stage, manage product delivery, manage stage boundary) Final delivery stage (controlling a stage, manage product delivery, closing a project)
What are the 7 PRINCE2 processes?
- starting up a project
- initiating a project
- directing a project
- controlling a stage
- managing product delivery
- managing a stage boundary
- closing a project
What is starting up a project, what is the purpose, what does it produce and who is accountable
This is the first of the seven processes and is usually begun by the arrival of a project mandate/instruction to start the project from Senior Management.
The purpose is to check if the project is worthwhile. Establish basic goals and groundwork.
- project brief
- outline business case
- project product description
- establish governance and team
Project manager and project executive are accountable for this stage.
What is initiating a project, who is accountable, what does it create?
It is the second of the seven processes It covers planning and detailed analysis of the day to day running of the project - risk management approach - quality management approach - change control approach - communications management approach - business management approach - project plan, with project description, - detailed business case
Assembled into the project initiation documentation
Project manager is accountable
What is controlling a stage, who is accountable and what does it produce?
This is the third of the seven processes
Accountable: Project manager
It is the day to day work of managing a project.
- delegate/work packages
- deliver stage products within tolerance
- collating info on the progress, compare to plan, forecast end stage
- highlight reports
- monitor business case
- capture, monitor and deal with issues and risks
- escalate when required
What is managing product delivery, who is responsible and what does it involve?
This is the fourth of the seven processes
Responsible: team manager
It is doing the technical/specialty work
Consists of:
- receiving and delegating work packages
- doing the work
- report the process in checkpoint reports
- handing the work back
What is managing a stage boundary, what does it involve and who is accountable?
This is the Fifth of the seven processes
It is the formal closing of one stage and preparing a project review.
- plan the next stage and seek permission to move to the next stage
- review and update project plan, business case and management report, project initiation documentation
- produce end stage report, lessons report
What are the two reasons Managing a Stage Boundary process is used for?
- the project is approaching a planned stage boundary
- the project has breached tolerance and the project manager has been asked to prepare an exception plan (draft replacement plan)
What is closing a project stage, who is accountable and what is done?
It is the sixth of seven processes The project manager is accountable This occurs at the end of the last stage. it ensures work is signed off, handed over, reports are made and archived - formal end of the project report - final follow-on action recommendations - updated benefits management approach - project closure recommendations
What is directing a project, who is accountable and what does it involve?
The seventh of seven processes The project board is accountable They are responsible for: - authorising initiating a project - authorising a project - authorising a stage - confirming project closure - giving Ad Hoc direction
What is the purpose of the quality theme?
To define and implement the means by which the project will verify that products are fit for purpose
What is quality?
The degree to which a set of inherent characteristics of a something fulfils requirements
What is quality management?
The coordinated activities to direct and control an organisation with regard to quality
What are customer quality expectations?
A statement about the quality expected from the projects product, captured in the project product description
What is acceptance criteria?
A prioritised list of criteria that the project product must meet before the customer will accept it, i.e. measurable definitions of the attributes required for the set of products to be acceptable to key stakeholders).
What is quality criteria?
A description of the quality specification that the product must meet and the quality measurements that will be applied by those inspecting the finished product
Quality planning vs quality control
Quality planning is defining the projects products, their quality criteria and quality methods - including effort required for quality control and product approval
Quality control focuses on the operational techniques and activities by those involved in the project to check the products meet quality criteria - i.e inspections, tests or review, and identify ways of eliminating causes of unsatisfactorily performance - i.e new process improvements as a result of previous lessons (achieved by following the quality management approach)
Quality assurance vs project assurance
Quality assurance provides a check that the projects direction and management are adequate for the nature of the project and that it complies with relevant corporate, programme management or customer standards and policies. Quality assurance is INDEPENDENT of the project
Project assurance is the project boards responsibility to assure itself that the project is being conducted correctly. The board members each have specific areas to focus for project assurance, namely business assurance for the executive, user assurance for the senior users and supplier assurance for the senior suppliers. Project assurance is therefore independent of the project manager but not independent of the project
Where are a projects products quality methods and responsibilities defined?
The quality management approach
What are PRINCE2 minimums in regards to quality?
- define its quality management approach, that covers:
a. the projects approach to quality control
b. the projects approach to quality project assurance
c. how the management of quality is communicated throughout the project lifecycle
d. the roles and responsibilities for quality management - defined roles and responsibilities - specify explicit quality criteria for products in their product descriptions
- maintain records to provide evidence that the planned quality activities have been carried out and summarise those activities that are planned or have taken place in some form of quality register
What are the 4 PRINCE2 minimum requirements for the business case?
- Create and maintain business justification through A BUSINESS CASE
- Continued business justification on desirability, viability and achievability of the project
- Define management actions (BENEFITS MANAGEMENT APPROACH) that will be put in place to ensure the projects outcomes are achieved and confirm that the project benefits are realised
- Define and document the roles and responsibilities for the business case
What are the 3 PRINCE2’s minimum requirements for organisation?
- Define it’s organisation structure and roles and ensure all responsibilities in role descriptions are fulfilled.
- document the rules for delegating CHANGE AUTHORITY responsibilities
- Define it’s approach to communicating and engaging with stakeholders
What are PRINCE2s 3 minimum requirements for quality and what are the 4 minimum requirements for QMA?
- Define quality management approach (which should cover)
- The approach to quality control
- the approach to project assurance
- how the management of quality is communicated
- the roles and responsibilities for quality management
- Specify quality criteria for products in their PRODUCT DESCRIPTIONS
- Maintain records for evidence that the planned quality activities have occurred
What are the 4 types of plans?
- Project Plan
- Stage Plan
- Team Plan
- Exception Plan
Project product description vs project approach
The project product description defines what the customer is expecting the project to deliver
The project approach defines the solution or method to be used by the supplier to create the project product
What is a product breakdown structure?
A hierarchy of products - i.e lower-level product is a component of a higher-level product.A plan is broken down into major products which are broken down to appropriate detail for a plan to be reached
What is a product flow diagram
It shows the sequence in which products are to be created and helps to identify dependencies on any other products.
What is a risk?
An uncertain event or a set of events that, should it occur, will have an effect on the achievement of objectives. A risk is measured by a combination of the probability of a perceived threat or opportunity occurring, and the magnitude of its impact on objectives
What is a threat?
Uncertain events that would have a negative impact on objectives
What is an opportunity?
An uncertain event that would have a positive impact on objectives
What is risk management?
The application pf principles, approaches and processes to identify and assess risks, planning and implementing risk responses and communicating risk management activities with stakeholders.
What is a risks proximity?
A risks probability, impact and timing
What is risk exposure?
The extent of risk borne by the organisation at the time
The combined effect of the individual risks needs to be understood to determine the risk exposure
What are the 5 repeatable steps in risk management?
- Identify - context and risks
- Assess - eliminate and evaluate
- Plan - responses (i.e avoid, exploit, enhance, transfer, share, accept, prepare (contingency plans))
- Implement
- Communicate - operates in parallel - stakeholders
What is a risk budget?
A sum of money to fund specific management responses to the projects threats and opportunities.
What is important to include in a risk budget?
Include a provision for unknown risks that are yet to be identified
Why is it important for the risk management approach to mention a risk budget?
As it needs to define the mechanisms for control of and access to the risk budget, so it isn’t treated like a sum of money the PM can spend
What is a risk register?
A register of all risks that have been identified
Who can raise an issue or a risk?
Any member of the project
What is a risk cause?
The source or trigger points for risk - Also known as risk drivers
What is a risk event?
The area of uncertainty in terms of the threat or the opportunity
What is a risk effect?
The impacts the risk would have on project objectives, should the risk materialise
What are 5 risk identification techniques
- Review lessons - review similar projects to see what threats or opportunities affected them
- Risk checklists - lists of risks that have either been identified or have occurred previously - it prevents these from being overlooked
- Risk prompt lists - publicly available lists that categorise risks into types or areas and are normally relevant to a wide range of projects. They help stimulate thinking about sources of risk in the widest context
- Brainstorming - group thinking, can help identify and understand stakeholders views of the risks identified
Risk breakdown structure - hierarchical decomposition of potential sources of risk. Each descending level represents an increasingly detailed definition of sources of risk to the project. Acts as a prompt and an aid to find risks. i.e Political, economical, social, technological, legal, environmental OR product breakdown structure, management stage, delivery step, benefits/objectives etc
What is risk appetite?
An organisations attitude towards risk-taking that in turn dictates the amount of risk that it considers acceptable
What is risk tolerance?
The threshold levels of risk exposure that, with appropriate approvals, can be exceeded, but which when exceeded will trigger some form of response - i.e a reporting situation to senior management for action
The risk tolerance will be set by the project board based on the companies overall risk appetite.
What should be done if the risk exposure is greater than a companies risk appetite?
Control actions need to be planned in response
Business justification
What are the 6 risk responses to a threat?
- Avoid - make the threat disappear i.e. reduce the risk
- Reduce - reduce probability and/or impact
- Transfer - give the risk to someone else, i.e. insurance
- Shared - as part of a partnership, customers and suppliers share the risk
- Accept - take the chance and do nothing
- Prepare contingent plans - prepare fall-back plans
What are the 6 risk responses to opportunities?
- Exploit - make it absolutely certain
- Enhance - increase the probability and/or benefit
- Transfer - not very common
- Shared - share the benefit between supplier and customer etc
- Accept - do nothing and take the change it might happen
- Prepare contingent plans - fall-back plan, i.e. purchase at a discount if they can but if they cant get cheaper materials
etc
- Prepare contingent plans - fall-back plan, i.e. purchase at a discount if they can but if they cant get cheaper materials
What is a risk owner?
A named individual who is responsible for the management, monitoring and control of all aspects of a particular risk assigned to them, including the implementation of the selected responses
What is a risk actionee?
An individual assigned to carry out the risk response action. They support and take direction from the risk owner
What 5 management products communicate risks?
- Checkpoint reports
- Highlight reports
- End stage reports
- End project reports
- Exception reports
What management approach should be referenced when communicating risks?
Communication management approach
