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PRINCE2 Glossary Terms (Managing Successful Projects with PRINCE2 (Textbook 2017 EDITION)) > PRINCE2 Glossary Terms (Managing Successful Projects with PRINCE2 (Textbook 2017 EDITION)) > Flashcards

PRINCE2 Glossary Terms (Managing Successful Projects with PRINCE2 (Textbook 2017 EDITION)) Flashcards

Complete glossary of terms for PRINCE2 (2017 Edition)

1
Q

Accept (risk response)

A

A risk response that means that the organization takes the chance that the risk will occur, with full impact on objectives if it does.

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2
Q

Acceptance

A

The formal act of acknowledging that the project has met agreed acceptance criteria and thereby met the requirements of its stakeholders.

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3
Q

Acceptance criteria

A

A prioritized 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).

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4
Q

Activity

A

A process, function or task that occurs over time, has recognizable results and is managed. It is usually defined as part of a process or plan.

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5
Q

Agile and agile methods

A

A broad term for a collection of behaviours, frameworks, concepts and techniques that go together to enable teams and individuals to work in an agile way that is typified by collaboration, prioritization, iterative and incremental delivery, and timeboxing. There are several specific methods (or frameworks) that are classed as agile, such as Scrum and Kanban. PRINCE2 is completely compatible with working in an agile way.

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6
Q

Approval

A

The formal confirmation that a product is complete and meets its requirements (less any concessions) as defined by its product description.

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7
Q

Approver

A

The person or group (e.g., a project board) who is identified as qualified and authorized to approve a (management or specialist) product as being complete and fit for purpose.

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8
Q

Asset

A

An item, thing or entity that has potential or actual value to an organization [ISO 55000:2014].

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9
Q

Assumption

A

A statement that is taken as being true for the purposes of planning, but which could change later. An assumption is made where some facts are not yet known or decided, and is usually reserved for matters of such significance that, if they change or turn out not to be true, there will need to be considerable replanning.

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10
Q

Assurance

A

All the systematic actions necessary to provide confidence that the target (e.g., system, process, organization, programme, project, outcome, benefit, capability, product output or deliverable) is appropriate. Appropriateness might be defined subjectively or objectively in different circumstances. The implication is that assurance will have a level of independence from that which is being assured. See also project assurance; quality assurance.

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11
Q

Authority

A

The right to allocate resources and make decisions (applies to project, management stage and team levels).

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12
Q

Authorization

A

The point at which an authority is granted.

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13
Q

Avoid (risk response)

A

A risk response to a threat where the threat either can no longer have an impact or can no longer happen.

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14
Q

Backlog

A

A list of new features for a product. The list may be made up of user stories which are structured in a way that describes who wants the feature and why.

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15
Q

Baseline

A

Reference levels against which an entity is monitored and controlled.

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16
Q

Baseline management product

A

A type of management product that defines aspects of the project and, when approved, is subject to change control.

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17
Q

Benefit

A

The measurable improvement resulting from an outcome perceived as an advantage by one or more stakeholders.

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18
Q

Benefits management approach

A

An approach that defines the benefits management actions and benefits reviews that will be put in place to ensure that the project’s outcomes are achieved and to confirm that the project’s benefits are realized.

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19
Q

Benefits tolerance

A

The permissible deviation in the expected benefit that is allowed before the deviation needs to be escalated to the next level of management. Benefits tolerance is documented in the business case. See also tolerance.

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20
Q

Burn chart

A

A technique for showing progress (e.g., such as with a timebox), where work that is completed and work still to do are shown with one or more lines that are updated regularly or daily.

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21
Q

Business case

A

The justification for an organizational activity (project), which typically contains timescales, costs, benefits and risks, and against which continuing viability is tested.

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22
Q

Centre of excellence

A

A corporate coordinating function for portfolios, programmes and projects providing standards, consistency of methods and processes, knowledge management, assurance and training.

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23
Q

Change authority

A

A person or group to which the project board may delegate responsibility for the consideration of requests for change or off-specifications. The change authority may be given a change budget and can approve changes within that budget.

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24
Q

Change budget

A

The money allocated to the change authority available to be spent on authorized requests for change.

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25
Q

Change control approach

A

A description of how and by whom the project’s products will be controlled and protected.

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26
Q

Checkpoint

A

A team-level, time-driven review of progress.

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27
Q

Checkpoint report

A

A progress report of the information gathered at a checkpoint, which is given by a team to the project manager and which provides reporting data as defined in the work package.

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28
Q

Closure recommendation

A

A recommendation prepared by the project manager for the project board to send as a project closure notification when the board is satisfied that the project can be closed.

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29
Q

Communication management approach

A

A description of the means and frequency of communication between the project and its stakeholders.

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30
Q

Concession

A

An off-specification that is accepted by the project board without corrective action.

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31
Q

Configuration item

A

An entity that is subject to change control. The entity may be a component of a product, a product or a set of products in a release.

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32
Q

Configuration item record

A

A record that describes the status, version and variant of a configuration item, and any details of important relationships between them.

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33
Q

Configuration management

A

Technical and administrative activities concerned with the controlled change of a product.

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34
Q

Configuration management system

A

The set of processes, tools and databases that are used to manage configuration data. Typically, a project will use the configuration management system of either the customer or supplier organization.

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35
Q

Constraints

A

The restrictions or limitations by which the project is bound.

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36
Q

Contingent plan

A

A plan intended for use only if required (e.g., if a risk response is not successful). Often called a fallback plan.

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37
Q

Corporate, programme management or customer standards

A

These are overarching standards to which the project must adhere. They will influence the four project approaches (communication management, change control, quality management and risk management) and the project controls.

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38
Q

Corrective action

A

A set of actions to resolve a threat to a plan’s tolerances or a defect in a product.

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39
Q

Cost tolerance

A

The permissible deviation in a plan’s cost that is allowed before it needs to be escalated to the next level of management. Cost tolerance is documented in the respective plan. See also tolerance.

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40
Q

Customer

A

The person or group who commissioned the work and will benefit from the end results.

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41
Q

Customer’s quality expectations

A

A statement about the quality expected from the project product, captured in the project product description.

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42
Q

Daily log

A

A log used to record problems/concerns that can be handled by the project manager informally.

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43
Q

Deliverable

A

See output.

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44
Q

Delivery approach

A

The specialist approach used to create the products.

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45
Q

Delivery step

A

A step within the delivery approach.

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46
Q

Dependency (plan)

A

A dependency means that one activity is dependent on another. There are at least two types of dependency relevant to a project: internal and external. An internal dependency is one between two project activities. In these circumstances the project team has control over the dependency. An external dependency is one between a project activity and a non-project activity, where non-project activities are undertaken by people who are not part of the project team. In these circumstances the project team does not have complete control over the dependency.

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47
Q

Dis-benefit

A

A measurable decline resulting from an outcome perceived as negative by one or more stakeholders, which reduces one or more organizational objective(s).

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48
Q

Embedding (PRINCE2)

A

The act of making something an integral part of a bigger whole. Embedding is what an organization needs to do to adopt PRINCE2 as its corporate project management method and encourage its widespread use.

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49
Q

End project report

A

A report given by the project manager to the project board, confirming the handover of all products. It provides an updated business case and an assessment of how well the project has done against the original PID.

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50
Q

End stage assessment

A

The review by the project board and project manager of the end stage report to decide whether to approve the next stage plan. Depending on the size and criticality of the project, the review may be formal or informal. The authority to proceed should be documented as a formal record.

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51
Q

End stage report

A

A report given by the project manager to the project board at the end of each management stage of the project. This provides information about the project’s performance during the management stage and the project status at the management stage end.

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52
Q

Enhance (risk response)

A

A risk response to an opportunity where proactive actions are taken to enhance both the probability of the event occurring and the impact of the event should it occur.

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53
Q

Epic

A

A high-level definition of a requirement that has not been sufficiently refined or understood yet. Eventually, an epic will be refined and broken down into several user stories or requirements.

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54
Q

Event-driven control

A

A control that takes place when a specific event occurs. This could be, for example, the end of a management stage, the completion of the PID, 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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55
Q

Exception

A

A situation where it can be forecast that there will be a deviation beyond the tolerance levels agreed between the project manager and the project board (or between the project board and corporate, programme management or the customer).

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56
Q

Exception assessment

A

A review by the project board to approve or reject an exception plan.

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57
Q

Exception plan

A

A plan that often follows an exception report. For a stage plan exception, it covers the period from the present to the end of the current management stage. If the exception were at project level, the project plan would be replaced.

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58
Q

Exception report

A

A description of the exception situation, its impact, options, recommendation, and impact of the recommendation. This report is prepared by the project manager for the project board.

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59
Q

Executive

A

The individual with overall responsibility for ensuring that a project meets its objectives and delivers the projected benefits. This individual should ensure that the project maintains its business focus, that it has clear authority, and that the work, including risks, is actively managed. The executive is the chair of the project board. He or she represents the customer and is responsible for the business case.

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60
Q

Exploit (risk response)

A

A risk response to an opportunity. It means seizing the opportunity to ensure that it will happen and that the impact will be realized.

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61
Q

Follow-on action recommendations

A

Recommended actions related to unfinished work, ongoing issues and risks, and any other activities needed to take a product to the next phase of its life. These are summarized and included in the end stage report (for phased handover) and end project report.

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62
Q

Governance (corporate)

A

The ongoing activity of maintaining a sound system of internal control by which the directors and officers of an organization ensure that effective management systems, including financial monitoring and control systems, have been put in place to protect assets, earning capacity and the reputation of the organization.

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63
Q

Governance (project)

A

Those areas of corporate governance that are specifically related to project activities. Effective governance of project management ensures that an organization’s project portfolio is aligned with the organization’s objectives, is delivered efficiently and is sustainable.

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64
Q

Handover

A

The transfer of ownership of a set of products to the respective user(s). The set of products is known as a release. There may be more than one handover in the life of a project (phased delivery). The final handover takes place in the closing a project process.

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65
Q

Highlight report

A

A time-driven report from the project manager to the project board on management stage progress.

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66
Q

Host site

A

A location where project work is being undertaken (e.g., an office or construction site).

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67
Q

Impact (of risk)

A

The result of a particular threat or opportunity actually occurring, or the anticipation of such a result.

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68
Q

Information radiator

A

A general term used to describe the use of walls or boards containing information that can be readily accessed by people working on the project. It can contain any information, although it would typically show such things as work to do and how work is progressing.

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69
Q

Inherent risk

A

The exposure arising from a specific risk before any action has been taken to manage it.

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70
Q

Initiation stage

A

The period from when the project board authorizes initiation to when it authorizes the project (or decides not to go ahead with it). The detailed planning and establishment of the project management infrastructure is covered by the initiating a project process.

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71
Q

Issue

A

A relevant event that has happened, was not planned, and requires management action. It can be any concern, query, request for change, suggestion or off-specification raised during a project. Project issues can be about anything to do with the project.

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72
Q

Issue register

A

A register used to capture and maintain information on all of the issues that are being managed formally. The issue register should be monitored by the project manager on a regular basis.

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73
Q

Issue report

A

A report containing the description, impact assessment, and recommendations for a request for change, off-specification, or a problem/concern. It is created only for those issues that need to be handled formally.

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74
Q

Key performance indicator (KPI)

A

A measure of performance that is used to help an organization define and evaluate how successful it is in making progress towards its organizational objectives.

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75
Q

Lessons log

A

An informal repository for lessons that apply to this project or future projects.

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76
Q

Log

A

An informal repository managed by the project manager that does not require any agreement by the project board on its format and composition. PRINCE2 has two logs: the daily log and the lessons log.

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77
Q

Management product

A

A product that will be required as part of managing the project, and establishing and maintaining quality (e.g., highlight report, end stage report). The management products are constant, whatever the type of project, and can be used as described, or with any relevant modifications, for all projects. There are three types of management product: baselines, records, and reports.

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78
Q

Management stage

A

The section of a project that the project manager is managing on behalf of the project board at any one time, at the end of which the project board will wish to review progress to date, the state of the project plan, the business case and risks, and the next stage plan, in order to decide whether to continue with the project.

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79
Q

Maturity

A

A measure of the reliability, efficiency, and effectiveness of a process, function, organization, etc. The most mature processes and functions are formally aligned with business objectives and strategy, and are supported by a framework for continual improvement.

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80
Q

Maturity model

A

A method of assessing organizational capability in a given area of skill.

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81
Q

Milestone

A

A significant event in a plan’s schedule, such as completion of key work packages, a development step, or a management stage.

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82
Q

Off-specification

A

Something that should be provided by the project, but currently is not (or is forecast not to be). It might be a missing product or a product not meeting its specifications. It is one type of issue.

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83
Q

Operational and maintenance acceptance

A

A specific type of acceptance by the person or group who will support the product after it has been handed over into the operational environment.

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84
Q

Outcome

A

The result of change, normally affecting real-world behaviour and/or circumstances. Outcomes are desired when a change is conceived. They are achieved as a result of the activities undertaken to effect the change.

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85
Q

Output

A

A specialist product that is handed over to a user (or users). Note that management products are not outputs but are created solely for the purpose of managing the project.

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86
Q

Performance targets

A

A plan’s goals for time, cost, quality, scope, benefits, and risk.

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87
Q

Plan

A

A detailed proposal for doing or achieving something which specifies the what, when, how, and by whom it will be achieved. In PRINCE2 there are only the following types of plan: project plan, stage plan, team plan, and exception plan.

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88
Q

Planned closure

A

The PRINCE2 activity to close a project.

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89
Q

Planning horizon

A

The period of time for which it is possible to plan accurately.

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90
Q

Portfolio

A

The totality of an organization’s investment (or segment thereof) in the changes required to achieve its strategic objectives.

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91
Q

Premature closure

A

The PRINCE2 activity to close a project before its planned closure. The project manager must ensure that work in progress is not simply abandoned, but that the project salvages any value created to date, and checks that any gaps left by the cancellation of the project are raised to corporate, programme management or the customer.

92
Q

Prerequisites (plan)

A

Any fundamental aspects that must be in place, and remain in place, for a plan to succeed.

93
Q

PRINCE2 principles

A

The guiding obligations for good project management practice that form the basis of a project being managed using PRINCE2.

94
Q

PRINCE2 project

A

A project that applies the PRINCE2 principles.

95
Q

Probability

A

This is the evaluated likelihood of a particular threat or opportunity actually happening, including a consideration of the frequency with which this may arise.

96
Q

Problem

A

A type of issue (other than a request for change or off-specification) that the project manager needs to resolve or escalate. Also known as a concern.

97
Q

Procedure

A

A series of actions for a particular aspect of project management established specifically for the project (e.g., a risk management procedure).

98
Q

Process

A

A structured set of activities designed to accomplish a specific objective. A process takes one or more defined inputs and turns them into defined outputs.

99
Q

Producer

A

The person or group responsible for developing a product.

100
Q

Product

A

An input or output, whether tangible or intangible, that can be described in advance, created and tested. PRINCE2 has two types of products: management products and specialist products.

101
Q

Product breakdown structure

A

A hierarchy of all the products to be produced during a plan.

102
Q

Product checklist

A

A list of the major products of a plan, plus key dates in their delivery.

103
Q

Product description

A

A description of a product’s purpose, composition, derivation, and quality criteria. It is produced at planning time, as soon as possible after the need for the product is identified.

104
Q

Product flow diagram

A

A diagram showing the sequence of production and interdependencies of the products listed in a product breakdown structure.

105
Q

Product status account

A

A report on the status of products. The required products can be specified by identifier or the part of the project in which they were developed.

106
Q

Product-based planning

A

A technique leading to a comprehensive plan based on the creation and delivery of required outputs. The technique considers prerequisite products, quality requirements, and the dependencies between products.

107
Q

Programme

A

A temporary, flexible organization structure created to coordinate, direct, and oversee the implementation of a set of related projects and activities in order to deliver outcomes and benefits related to the organization’s strategic objectives. A programme is likely to have a life that spans several years.

108
Q

Project

A

A temporary organization that is created for the purpose of delivering one or more business products according to an agreed business case.

109
Q

Project approach

A

A description of the way in which the work of the project is to be approached. For example, are we building a product from scratch or buying in a product that already exists?

110
Q

Project assurance

A

The project board’s responsibilities to assure itself that the project is being conducted correctly. The project board members each have a specific area of focus for project assurance, namely business assurance for the executive, user assurance for the senior user(s), and supplier assurance for the senior supplier(s).

111
Q

Project brief

A

A statement that describes the purpose, cost, time, and performance requirements, and constraints for a project. It is created before the project begins, during the starting up a project process, and is used during the initiating a project process to create the PID and its components. It is superseded by the PID and not maintained.

112
Q

Project closure notification

A

Advice from the project board to inform all stakeholders and the host sites that the project resources can be disbanded and support services, such as space, equipment, and access, demobilized. It should indicate a closure date for costs to be charged to the project.

113
Q

Plan

A

A detailed proposal for doing or achieving something which specifies the what, when, how, and by whom it will be achieved. In PRINCE2 there are only the following types of plan: project plan, stage plan, team plan, and exception plan.

114
Q

Planned closure

A

The PRINCE2 activity to close a project.

115
Q

Planning horizon

A

The period of time for which it is possible to plan accurately.

116
Q

Portfolio

A

The totality of an organization’s investment (or segment thereof) in the changes required to achieve its strategic objectives.

117
Q

Premature closure

A

The PRINCE2 activity to close a project before its planned closure. The project manager must ensure that work in progress is not simply abandoned, but that the project salvages any value created to date, and checks that any gaps left by the cancellation of the project are raised to corporate, programme management or the customer.

118
Q

Prerequisites (plan)

A

Any fundamental aspects that must be in place, and remain in place, for a plan to succeed.

119
Q

PRINCE2 principles

A

The guiding obligations for good project management practice that form the basis of a project being managed using PRINCE2.

120
Q

PRINCE2 project

A

A project that applies the PRINCE2 principles.

121
Q

Probability

A

This is the evaluated likelihood of a particular threat or opportunity actually happening, including a consideration of the frequency with which this may arise.

122
Q

Problem

A

A type of issue (other than a request for change or off-specification) that the project manager needs to resolve or escalate. Also known as a concern.

123
Q

Procedure

A

A series of actions for a particular aspect of project management established specifically for the project (e.g., a risk management procedure).

124
Q

Process

A

A structured set of activities designed to accomplish a specific objective. A process takes one or more defined inputs and turns them into defined outputs.

125
Q

Producer

A

The person or group responsible for developing a product.

126
Q

Product

A

An input or output, whether tangible or intangible, that can be described in advance, created and tested. PRINCE2 has two types of products: management products and specialist products.

127
Q

Product breakdown structure

A

A hierarchy of all the products to be produced during a plan.

128
Q

Product checklist

A

A list of the major products of a plan, plus key dates in their delivery.

129
Q

Product description

A

A description of a product’s purpose, composition, derivation, and quality criteria. It is produced at planning time, as soon as possible after the need for the product is identified.

130
Q

Product flow diagram

A

A diagram showing the sequence of production and interdependencies of the products listed in a product breakdown structure.

131
Q

Product status account

A

A report on the status of products. The required products can be specified by identifier or the part of the project in which they were developed.

132
Q

Product-based planning

A

A technique leading to a comprehensive plan based on the creation and delivery of required outputs. The technique considers prerequisite products, quality requirements, and the dependencies between products.

133
Q

Programme

A

A temporary, flexible organization structure created to coordinate, direct, and oversee the implementation of a set of related projects and activities in order to deliver outcomes and benefits related to the organization’s strategic objectives. A programme is likely to have a life that spans several years.

134
Q

Project

A

A temporary organization that is created for the purpose of delivering one or more business products according to an agreed business case.

135
Q

Project approach

A

A description of the way in which the work of the project is to be approached. For example, are we building a product from scratch or buying in a product that already exists?

136
Q

Project assurance

A

The project board’s responsibilities to assure itself that the project is being conducted correctly. The project board members each have a specific area of focus for project assurance, namely business assurance for the executive, user assurance for the senior user(s), and supplier assurance for the senior supplier(s).

137
Q

Project brief

A

A statement that describes the purpose, cost, time, and performance requirements, and constraints for a project. It is created before the project begins, during the starting up a project process, and is used during the initiating a project process to create the PID and its components. It is superseded by the PID and not maintained.

138
Q

Project closure notification

A

Advice from the project board to inform all stakeholders and the host sites that the project resources can be disbanded and support services, such as space, equipment, and access, demobilized. It should indicate a closure date for costs to be charged to the project.

139
Q

Project initiation documentation (PID)

A

A logical set of documents that brings together the key information needed to start the project on a sound basis and that conveys the information to all concerned with the project.

140
Q

Project initiation notification

A

Advice from the project board to inform all stakeholders and the host sites that the project is being initiated and to request any necessary logistical support (e.g., communication facilities, equipment, and any project support) sufficient for the initiation stage.

141
Q

Project lifecycle

A

The period from initiation of a project to the acceptance of the project product.

142
Q

Project management

A

The planning, delegating, monitoring, and control of all aspects of the project, and the motivation of those involved, to achieve the project objectives within the expected performance targets for time, cost, quality, scope, benefits, and risk.

143
Q

Project management team

A

The entire management structure of the project board, and the project manager, plus any team manager, project assurance, and project support roles.

144
Q

Project management team structure

A

An organization chart showing the people assigned to the project management team roles to be used, and their delegation and reporting relationships.

145
Q

Project manager

A

The person given the authority and responsibility to manage the project on a day-to-day basis to deliver the required products within the constraints agreed with the project board.

146
Q

Project mandate

A

An external product generated by the authority commissioning the project that forms the trigger for starting up a project.

147
Q

Project office

A

A temporary office set up to support the delivery of a specific change initiative being delivered as a project. If used, the project office undertakes the responsibility of the project support role.

148
Q

Project plan

A

A high-level plan showing the major products of the project, when they will be delivered, and at what cost. An initial project plan is presented as part of the PID. This is revised as information on actual progress appears. It is a major control document for the project board to measure actual progress against expectations.

149
Q

Project product

A

What the project must deliver in order to gain acceptance.

150
Q

Project product description

A

A special type of product description used to gain agreement from the user on the project’s scope and requirements, to define the customer’s quality expectations, and the acceptance criteria for the project.

151
Q

Project support

A

An administrative role in the project management team. Project support can be in the form of advice and help with project management tools, guidance, administrative services such as filing, and the collection of actual data.

152
Q

Proximity (of risk)

A

The time factor of risk (i.e., when the risk may occur). The impact of a risk may vary in severity depending on when the risk occurs.

153
Q

Quality

A

The degree to which a set of inherent characteristics of a product, service, process, person, organization, system, or resource fulfills requirements.

154
Q

Quality assurance

A

An independent (of the project team) check that products will be fit for purpose or meet requirements.

155
Q

Quality control

A

The process of monitoring specific project results to determine whether they comply with relevant standards and of identifying ways to eliminate causes of unsatisfactory performance.

156
Q

Quality criteria

A

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.

157
Q

Quality inspection

A

A systematic, structured assessment of a product carried out by two or more carefully selected people (the review team) in a planned, documented, and organized fashion.

158
Q

Quality management

A

The coordinated activities to direct and control an organization with regard to quality.

159
Q

Quality management approach

A

An approach defining the quality techniques and standards to be applied, and the various responsibilities for achieving the required quality levels, during a project.

160
Q

Quality management system

A

The complete set of quality standards, procedures, and responsibilities for an organization or specific entity (site, business unit, etc.) within that organization.

161
Q

Quality records

A

Evidence kept to demonstrate that the required quality assurance and quality control activities have been carried out.

162
Q

Quality register

A

A register containing summary details of all planned and completed quality activities. The quality register is used by the project manager and project assurance as part of reviewing progress.

163
Q

Quality review

A

See quality inspection.

164
Q

Quality review technique

A

A technique with defined roles and a specific structure, designed to assess whether a product in the form of a document (or similar, such as a presentation) is complete, adheres to standards and meets the quality criteria agreed for it in the relevant product description. The participants are drawn from those with the necessary competence to evaluate its fitness for purpose.

165
Q

Quality tolerance

A

The tolerance identified for a product for a quality criterion defining an acceptable range of values. Quality tolerance is documented in the project product description (for the project-level quality tolerance) and in the product description for each product to be delivered.

166
Q

Records

A

Dynamic management products that maintain information regarding project progress.

167
Q

Reduce (risk response)

A

A response to a risk where proactive actions are taken to reduce the probability of the event occurring by performing some form of control, and/or to reduce the impact of the event should it occur.

168
Q

Registers

A

Formal repositories managed by the project manager that require agreement by the project board on their format, composition and use. PRINCE2 has three registers: issue register, risk register, and quality register.

169
Q

Release

A

The set of products in a handover. The contents of a release are managed, tested, and deployed as a single entity. See also handover.

170
Q

Reports

A

Management products providing a snapshot of the status of certain aspects of the project.

171
Q

Request for change

A

A proposal for a change to a baseline. It is a type of issue.

172
Q

Residual risk

A

The risk remaining after the risk response has been applied.

173
Q

Responsible authority

A

The person or group commissioning the project (typically corporate, programme management, or the customer) who has the authority to commit resources and funds on behalf of the commissioning organization.

174
Q

Reviewer

A

A person or group independent of the producer who assesses whether a product meets its requirements as defined in its product description.

175
Q

Risk

A

An uncertain event or 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.

176
Q

Risk actionee

A

A nominated owner of an action to address a risk. Some actions may not be within the remit of the risk owner to control explicitly; in that situation, there should be a nominated owner of the action to address the risk. He or she will need to keep the risk owner apprised of the situation.

177
Q

Risk appetite

A

An organization’s unique attitude towards risk-taking that in turn dictates the amount of risk that it considers acceptable.

178
Q

Risk estimation

A

The estimation of probability and impact of an individual risk, taking into account predetermined standards, target risk levels, interdependencies, and other relevant factors.

179
Q

Risk evaluation

A

The process of understanding the net effect of the identified threats and opportunities on an activity when aggregated together.

180
Q

Risk exposure

A

The extent of risk borne by the organization at the time.

181
Q

Risk management

A

The systematic application of principles, approaches, and processes to the tasks of identifying and assessing risks, planning and implementing risk responses, and communicating risk management activities with stakeholders.

182
Q

Risk management approach

A

An approach describing the goals of applying risk management, as well as the procedure that will be adopted, roles and responsibilities, risk tolerances, the timing of risk management interventions, the tools and techniques that will be used, and the reporting requirements.

183
Q

Risk owner

A

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 to address the threats or to maximize the opportunities.

184
Q

Risk profile

A

A description of the types of risk that are faced by an organization and its exposure to those risks.

185
Q

Risk register

A

A record of identified risks relating to an initiative, including their status and history.

186
Q

Risk response

A

Actions that may be taken to bring a situation to a level where exposure to risk is acceptable to the organization. These responses fall into a number of risk response categories.

187
Q

Risk response category

A

A category of risk response. For threats, the individual risk response category can be to avoid, reduce, transfer, share, accept or prepare contingent plans. For opportunities, the individual risk response category can be to exploit, enhance, transfer, share, accept, or prepare contingent plans.

188
Q

Risk tolerance

A

The threshold levels of risk exposure that, with appropriate approvals, can be exceeded, but which when exceeded will trigger some form of response (e.g., reporting the situation to senior management for action).

189
Q

Risk tolerance line

A

A line drawn on the summary risk profile. Risks that appear above this line cannot be accepted (lived with) without referring them to a higher authority. For a project, the project manager would refer these risks to the project board.

190
Q

Schedule

A

A graphical representation of a plan (e.g., a Gantt chart), typically describing a sequence of tasks, together with resource allocations, which collectively deliver the plan. In PRINCE2, project activities should be documented only in the schedules associated with a project plan, stage plan, or team plan. Actions that are allocated from day-to-day management may be documented in the relevant project log (i.e., risk register, daily log, issue register, or quality register) if they do not require significant activity.

191
Q

Scope

A

For a plan, the sum total of its products and the extent of their requirements. It is described by the product breakdown structure for the plan and associated product descriptions.

192
Q

Scope tolerance

A

The permissible deviation in a plan’s scope that is allowed before the deviation needs to be escalated to the next level of management. Scope tolerance is documented in the respective plan in the form of a note or reference to the product breakdown structure for that plan. See also tolerance.

193
Q

Scrum

A

An iterative, timeboxed approach to product delivery that is described as ‘a framework within which people can address complex adaptive problems, while productively and creatively delivering products of the highest possible value’ (Schwaber and Sutherland, 2016).

194
Q

Scrum master

A

A Scrum role that is responsible for ensuring Scrum is understood and enacted and that the Scrum team adheres to Scrum theory, practice, and rules.

195
Q

Senior supplier

A

The project board role that provides knowledge and experience of the main discipline(s) involved in the production of the project’s deliverable(s). The senior supplier represents the supplier’s interests within the project and provides supplier resources.

196
Q

Senior user

A

The project board role accountable for ensuring that user needs are specified correctly and that the solution meets those needs.

197
Q

Share (risk response)

A

A risk response to either a threat or an opportunity through the application of a pain/gain formula: both parties share the gain (within pre-agreed limits) if the cost is less than the cost plan, and both share the pain (again within pre-agreed limits) if the cost plan is exceeded.

198
Q

Specialist product

A

A product whose development is the subject of the plan. The specialist products are specific to an individual project (e.g., an advertising campaign, a car park ticketing system, foundations for a building, or a new business process). Also known as a deliverable. See also output.

199
Q

Sponsor

A

The main driving force behind a programme or project. PRINCE2 does not define a role for the sponsor, but the sponsor is most likely to be the executive on the project board, or the person who has appointed the executive.

200
Q

Sprint

A

A fixed timeframe (typically of 2–4 weeks) for creating selected features from the backlog.

201
Q

Stage

A

See management stage.

202
Q

Stage plan

A

A detailed plan used as the basis for project management control throughout a management stage.

203
Q

Stakeholder

A

Any individual, group, or organization that can affect, be affected by, or perceive itself to be affected by, an initiative (i.e., a programme, project, activity, or risk).

204
Q

Start-up

A

The pre-project activities undertaken by the executive and the project manager to produce the outline business case, project brief, and initiation stage plan.

205
Q

Supplier

A

The person, group, or groups responsible for the supply of the project’s specialist products.

206
Q

Tailoring

A

Adapting a method or process to suit the situation in which it will be used.

207
Q

Team manager

A

The person responsible for the production of products allocated by the project manager (as defined in a work package) to an appropriate quality, timescale, and at a cost acceptable to the project board. This role reports to, and takes direction from, the project manager. If a team manager is not assigned, the project manager undertakes the responsibilities of the team manager role.

208
Q

Team plan

A

An optional level of plan used as the basis for team management control when executing work packages.

209
Q

Theme

A

An aspect of project management that needs to be continually addressed, and that requires specific treatment for the PRINCE2 processes to be effective.

210
Q

Threat

A

An uncertain event that could have a negative impact on objectives or benefits.

211
Q

Time tolerance

A

The permissible deviation in a plan’s time that is allowed before the deviation needs to be escalated to the next level of management. Time tolerance is documented in the respective plan. See also tolerance.

212
Q

Time-driven control

A

A management control that is periodic in nature, to enable the next higher authority to monitor progress (e.g., a control that takes place every 2 weeks). PRINCE2 offers two key time-driven progress reports: checkpoint report and highlight report.

213
Q

Timebox

A

A finite period of time when work is carried out to achieve a goal or meet an objective. The deadline should not be moved, as the method of managing a timebox is to prioritize the work inside it. At a low level, a timebox will be a matter of days or weeks (e.g., a sprint). Higher-level timeboxes act as aggregated timeboxes and contain lower-level timeboxes (e.g., stages).

214
Q

Tolerance

A

The permissible deviation above and below a plan’s target for time and cost without escalating the deviation to the next level of management. There may also be tolerance levels for quality, scope, benefits, and risk. Tolerance is applied at project, management stage, and team levels.

215
Q

Tranche

A

A programme management term describing a group of projects structured around distinct step changes in capability and benefit delivery.

216
Q

Transfer (risk response)

A

A response to a threat where a third party takes on responsibility for some of the financial impact of the threat (e.g., through insurance or by means of appropriate clauses in a contract).

217
Q

Transformation

A

A distinct change to the way an organization conducts all or part of its business.

218
Q

Trigger

A

An event or decision that triggers a PRINCE2 process to begin.

219
Q

User

A

The person or group who will use one or more of the project’s products.

220
Q

User acceptance

A

A specific type of acceptance by the person or group who will use the product after it has been handed over into the operational environment.

221
Q

User story

A

A tool used to write a requirement in the form of who, what, and why.

222
Q

Variant

A

A variation of a baselined product. For example, an operations manual may have English and Spanish variants.

223
Q

Version

A

A specific baseline of a product. Versions typically use naming conventions that enable the sequence or date of the baseline to be identified. For example, project plan version 2 is the baseline after project plan version 1.

224
Q

Waterfall method

A

A development approach that is linear and sequential, with distinct goals for each phase of development. After a phase of development has been completed, the development proceeds to the next phase and earlier phases are not revisited (hence the analogy that water flowing down a mountain cannot go back).

225
Q

Work package

A

The set of information relevant to the creation of one or more products. It will contain a description of the work, the product description(s), details of any constraints on production, and confirmation of the agreement between the project manager and the person or team manager who is to implement the work package that the work can be done within the constraints.

226
Q

Tranche

A

A phase within a program that consists of a collection of projects and activities organized to deliver specific portions of the program’s objectives, allowing for phased delivery and enabling strategic adjustments based on performance and changing conditions.

227
Q
A

PRINCE2 Glossary Terms (Managing Successful Projects with PRINCE2 (Textbook 2017 EDITION)) (1 decks)

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