Principles Flashcards
Statement1: The project has been commissioned due to changes in legislation. The Project executive has prepared a cost benefit analysis which demonstrates that the chosen option represents value for money
Ensure Continued Business Justification
Statement2: The previous project in the company exceeded its budget significantly due to poor estimation techniques. It was recommended, that three estimating supporting techniques were used instead of just one to increase estimating accuracy.
Learn from experience
Statement 3: During stage 3 of the project the team manager reported that using a cherry picker instead of a scaffolding had saved 25% on both the time and cost estimates of the work package.
Learn from experience
- During stage 2 of the project Amy plc was selected to
undertake the work in stage 3 and 4. When planning stage 3
the Project Manager updated the project management team
structure to include new team managers from Amy plc and a
senior manager from Amy plc was nominated to take the role
of Senior Supplier on the Project Board.
Define roles, responsibilities and relationships
- The corporate management set project tolerances of +/- 10% for cost and +3 months and � 1 month for time.
Manage by exception
- The specification stated that the system must be able to support 100 transactions a minute
Focus on products
- The three-month project was very straightforward and a significant amount of work was done before the project mandate was issued. The Executive decided to combine the SU and IP processes
Tailor to suit the project
Manage by stages suggest that longer stages give the Project Board more control and should be used wherever possible as it reduces the planning overhead for the Project Manager
False
Focus on products suggest that PRINCE2 project should focus on the definition and delivery of products, in particular their quality specifications
True
The Project Manager assigned a tolerance of +/- 10% costs for a work package and told the team manager that any forecast deviation from this tolerance should be escalated immediately via a telephone call. The is using the management by stages principles.
False
A good example of ‘manage by exception’ is the project board requesting highlight report every 2 weeks in an 8 week stage.
True
The Project Executive and the Project Manager have decided that even though the project is low risk, with a 12 week duration, every managemnt report should be prepared in Word format with checkpoint reports every 5 days and highlight reports every 10 days. This is a good example of applying the principle’ tailer to suit the project’
False
The Project manager, working in a commercial ‘customer-supplier’ relationship project, has suggested the addition of a coach to guide delivery teams in the next stage. This is because many of the suppliers in the next stage will be using iteratived-incremental delivery methods by default but appear aunfamiliar with how this would work within a PRINCE2 project. this is good example of the principle ‘ tailor to suit the project’.
True
The Project manadate has been issued and the Project Executive and Project Manager are in place. The project Executive has called a meeting of the Project Management department which has 4 Project Managers to discuss the current project and request the Project Managers to contribute any experience which they feel may be useful. This is a good example of ‘learn from experience’
True
