Principles

Question 1

Prince2 is principles based.

What are the 7 principles?

Answer 1

• continued business justification
• learn from experience
• defined roles and responsibilities
• manage by stages
• manage by exception
• focus on products
• tailor to suit the project environment

Question 2

Principles: what does continued business justification mean?

Answer 2

There is justifiable reason to start the project.

The justification is valid throughout the project.

The justification is documented and approved.

Question 3

Principles: one of the 7 principles is Learn from Experience, when can you do this?

Answer 3

Lessons should be sought;

• when starting a project
• as the project progresses
• as the project closes

Question 4

Principles: What stakeholders are involved in the Defined roles and responsibilities principle?

Answer 4

• Business stakeholders
• User stakeholders
• Supplier stakeholders

Question 5

Principles: What is a Business stakeholder?

Answer 5

Sponsors who endorse the objectives and ensure that the project is value for money

Question 6

Principles: what is a User stakeholder?

Answer 6

Those who use the products to realise the benefits after the project is complete

Question 7

Principles: what is a Supplier stakeholder?

Answer 7

They provide the resources and expertise to the project

Question 8

Principles: what are the 3 benefits to the Manage by Stages principle?

Answer 8

• breaking the project into stages provides senior management with control points throughout the project
• enables planning to be done to a level of detail that is manageable and foreseeable - high level planning is done for the whole project with more detailed planning for the next stage
• projects can be controlled on a stage by stage basis

Question 9

Principles: What is the minimum amount of stages required for a Prince2 project?

Answer 9

Two

Question 10

Principles: Name the two minimum stages required for a Prince2 project

Answer 10

• initiation stage

- management stage

Question 11

Principles: What is meant by the Manage by Exception principle?

Answer 11

Defining tolerances for each project objective to establish limits of delegated authority

Question 12

Principles: What are the 6 objectives (headings) for setting tolerances?

Answer 12

• time
• cost
• quality
• scope
• risk
• benefit

Question 13

Principles: What is meant by the Focus on Products principle?

Answer 13

Projects should focus on outputs, not activities.

Outputs should be agreed BEFORE defining the activities to produce them.

Question 14

Principles: What are Product Descriptions used for?

Answer 14

A Product Description is used to provide clarity about a products purpose, composition and quality criteria

Question 15

Principles: What 3 things does Tailoring to suit the project environment ensure?

Answer 15

Tailoring ensures that;

• Prince2 be applied to any project type, organisation, geography or culture
• the project management effort and approach is appropriate to the needs of the project
• the project management is aligned to the organisations business processes that may govern and support the project

Question 16

Principles: What is used to state how the method is being tailored to suit the project?

Answer 16

Project Initiation Documentation