Lesson 2

Question 1

What is a Project ?

1. ___________ organisation
2. created for purpose of _____________
3. according to ____________

General PRINCE2 Concepts

Answer 1

1. temporary
2. delivering one or more business products
3. agreed business case

Question 2

What is Business as usual

General PRINCE2 Concepts

Answer 2

In org, maintaining current business operations such as profitability, service quality etc

Question 3

Why does an org launch projects

General PRINCE2 Concepts

Answer 3

1. to introduce new products or services
2. to improve current BAU processes

Question 4

How is a Project different from BAU

General PRINCE2 Concepts

Answer 4

Projects introduce change

Question 5

What are five characteristics of Project that differentiate it from BAU

General PRINCE2 Concepts

Answer 5

C U C U T

1. Change
2. Temporary
3. Unique
4. Cross-functional
5. Uncertainty

Question 6

What is the purpose/definition of project management in PRINCE2?

Project Management in PRINCE2

Answer 6

Plan
Delegate
Monitor
Control

all aspects of project

Question 7

What are the six performance targets

Answer 7

STC QBR

Scope
Time
Cost
Quality
Benefits
Risk

Question 8

Purpose of project management

Answer 8

1.Specialist work - keep control over specialist work

2.Risks - Manage Risks effectively

Question 9

who is the customer, and what is their role?

Answer 9

Specifies the desired result and is responsible for the project’s mandate, governance, and realizing project benefits.

Question 10

Who is Supplier in P2

Answer 10

who provides resources and skills to deliver the result

Question 11

Who is referred to as ‘corporate or programme
management or the customer’.

Answer 11

organisation that commissions the project

Question 12

What triggers a PRINCE2 Project and acts as an input ?

Answer 12

Project Mandate

Question 13

What is the responsibility of ‘corporate or programme
management or the customer’.

Answer 13

Provide Project Mandate

Govern the Project

Realise Project Benefits

Question 14

What are the different contexts in which PRINCE2 projects can exist?

Types of Project Contexts

Answer 14

1. Stand-alone projects
2. Projects within programs
3. Projects within portfolios
4. Projects in commercial environments

Question 15

What is the project context heirarchy

Answer 15

Top - Portfolio

Down - Programme, Standalone Project, Sub-portfolio

Question 16

Definition: Programme

Types of Project Contexts

Answer 16

Set of related Projects

Question 17

Sponsor

Answer 17

Main driving force behind project

Question 18

Definition: Portfolio

Types of Project Contexts

Answer 18

Totality of organisation’s investment to achieve strategic objectives

Question 19

ISO 9001

Answer 19

Provides guidelines for activities to ensure consistency (w/o specifying how activity should be carried out)

Question 20

P2

Answer 20

provides a set of activities, roles and techniques for undertaking the activities

Question 21

PMBOK

Answer 21

what a competent project manager should know

Question 22

Objectives

Answer 22

what the project needs to achieve

Question 23

KPIs

Answer 23

Measures to track progress toward project objectives, including time, cost, and quality.

Question 24

Leading Indicators

Answer 24

Measure progress toward future outcomes

Question 25

Lagging Indicators

Answer 25

Measure performance after events (actual vs expected performance)

Question 26

P3M3 (Portfolio, Programme, Project Management Maturity Model) 5-point scale

Answer 26

Level 1 : Awareness of process Level 2 : Repeatable process Level 3 : Defined process Level 4 : Managed process Level 5 : Optimized process

Question 27

Why is tailoring important in PRINCE2?

Answer 27

It ensures that P2 can be adapted to organizations's standards, policies and processes while remaining effective

Question 28

Describe the Waterfall approach in PRINCE2.

Answer 28

Sequential steps where each phase must be completed before the next, and the product is delivered at the end of the project.

Question 29

How does PRINCE2 Agile regard Agile methodology?

Answer 29

As a family of behaviors, concepts, framework and techniques.

Question 30

What is P3M3, and why is it important?

Answer 30

used to assess and improve project management capability.

Question 31

What additional considerations are needed for projects in a commercial environment?

Answer 31

Business case, management systems, governance, organization structures, delivery approaches, and corporate culture.

Question 32

Give an example of a project in a commercial environment.

Answer 32

Inter-governmental projects, joint ventures, or collaborative research initiatives.

Question 34

Name a key responsibility of the Project Manager in PRINCE2.

Answer 34

To ensure that project activities align with the project plan and to take corrective actions if needed.