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PRINCE2 7TH EDITION FOUNDATION Q&A 2024
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PRINCE2 7TH EDITION FOUNDATION Q&A 2024
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PRINCE2 7TH EDITION FOUNDATIONLO1: 1.1 Recall key concepts related to project management:
a) all definition of the integrated elements of PRINCE2: principles, people, practices,
processes and the project context - Answers-Principles:
- Guiding obligations that determine whether the project is genuinely being managed
using PRINCE2.
- All seven must be applied or it is not a PRINCE2 project.
- Ensure effective application and tailoring of PRINCE2 to any project.
People
- Project need people, mainly those working on the project and those affected by the
project.
- An understanding of needs and capabilities of people is crucial to how the project is
established and managed.
Practices
- Describes the essential aspects of the project management that must be applied
consistently throughout the project life cycle.
- Seven practices explain the specific treatment required of that aspect of project
management for PRINCE2 processes to be effective.
Processes
- The seven processes describe the entire project lifecycle.
- From activities before getting started, through the stages of project delivery, and to the
final act of project closure.
Context
- The principles, practices and processes are applied by the people involved to ensure
that the method is fit for the project context.
LO1: 1.1 Recall key concepts related to project management:
b) the definition of a project and project management - Answers-Project - A temporary
organization that is created for the purpose of delivering one or more business products
according to an agreed business case.
Project Management - The application of methods, tools, techniques, and competencies
to enable the project to meet its objectives.
LO1: 1.1 Recall key concepts related to project management:
c) the aspects of project performance to be managed - Answers-1) Benefits
- Those involved in the project need to be able to answer why are we doing this?
- Who are we doing this for?
, - Clear understanding of the purpose of the project and what needs to be achieved to
justify its investment.
2) Costs
- As the project develops, there are many factors that can affect the cost budget
available or that may lead to potential under spend or over spend against the cost
budget.
- The project has to be affordable.
3) Time
- When will the project start.
- When will the key products be delivered?
- When will the project finish?
4) Quality
- Finishing on time and within budget isn't much consolation if the result of the project is
not as specified or does not work.
- What is delivered by the project must be fit for purpose.
5) Scope
- What will the project deliver?
6) Sustainability
- All projects have an impact on the environment
- Project management teams must consider sustainability performance targets for
project work and for the products required of the project.
7) Risk
- All projects involve risk.
- But how much risk is the business prepared to take?
LO1: 1.1 Recall key concepts related to project management:
d) the definition of delivery approaches: linear-sequential iterative-incremental, hybrid -
Answers-Linear-sequential
- Each of the delivery steps to create the products occurs in sequence
- The product is made available during or at the end of the project.
Iterative-incremental approach
- Often, but not exclusively, used for product development
- Where requirements gathering, design, development, and/or coding, and testing occur
iteratively throughout the life cycle of the project.
- This approach is referred to as an agile approach.
Hybrid approach
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