PRINCE2 Introduction

Question 1

What is the PRINCE2 definition of a project?

Answer 1

A project is a temporary organisation that is created for the purpose of delivering one or more business products according to an agreed Business Case.

Question 2

What does Project Management deal with?

Answer 2

1. Planning
2. Delegating
3. Monitoring
4. Controlling

(Administration of the Project)

Question 3

What are the 7 principles of a PRINCE2 project?

Answer 3

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

Question 4

What are the 6 PRINCE2 variables / Performance Targets?

Answer 4

1. Timescales
2. Costs
3. Quality
4. Scope
5. Benefits
6. Risk

Question 5

TeCQuila SoBeR - State the 6 PRINCE2 variables / Performance Targets.

Answer 5

1. Timescales
2. Costs
3. Quality
4. Scope
5. Benefits
6. Risk

Question 6

What question could be asked to assess the timescales of a Project?

Answer 6

When will the project be finished?

Question 7

What question could be asked to assess the costs of a Project?

Answer 7

1. Are the costs being controlled?

2. Are we within budget?

Question 8

What question could be asked to assess the Quality of a Project?

Answer 8

1. Is the scope well-defined and clear to all stakeholders?

2. Has care been taken to avoid “Scope-Creep?”

Question 9

What question could be asked to assess the Benefits of a Project?

Answer 9

Why are we doing this and what are the benefits?

Question 10

What question could be asked to assess the risks of a Project?

Answer 10

How much risk can we take on and how can risk be managed?

Question 11

What are the 4 integrated elements of PRINCE2?

Answer 11

1. Principles
2. Themes
3. Processes
4. Tailoring

Question 12

Define “Principles” in regards to being part of one of the Integrated elements of PRINCE2.

Answer 12

PRINCE2 says that each project should consist of the 7 PRINCE2 principles (in other words, “best practices”).

Question 13

Define “Themes” in regards to being part of one of the Integrated elements of PRINCE2.

Answer 13

What items must be continually addressed during each project, e.g., Business Case, Organisation, Quality and Configuration Management.

Question 14

Define “Themes” in regards to being part of one of the Integrated elements of PRINCE2.

Answer 14

What activities are done during the project and by whom, “What products are to be created and when?”

Question 15

Define “Tailoring” in regards to being part of one of the Integrated elements of PRINCE2.

Answer 15

“How do I best apply PRINCE2 to my project or my environment?”

Question 16

What are the first 4 benefits of PRINCE2?

Answer 16

1. Best Practice - Used for 30 years across thousands of projects.
2. Can be applied to any kind of project.
3. Provides a structure for roles and accountability.
4. Product-focused; meaning that the product is well-defined at the start of the project.

Question 17

What is the final 4 benefits of PRINCE2?

Answer 17

5. Uses Management by Exception.
6. Continues to assess the viability of the project from a Business Case point of view.
7. A well-defined structure for reports and Management Products.
8. Promotes learning and a continual improvement mindset.