These notes for the PRINCE2 Foundation Certification provide an overview of the information needed to be successful at the exam. They compliment your study questions and will allow you to be effective and efficient in your studies. They also provide the 3 key concepts of PRINCE2, which are the seve...
PROJECTS IN CONTROLLED ENVIRONEMNTS
(PRINCE)
PRINCE2 FOUNDATION: A PROJECT MANAGEMENT
CERTIFICATION
NOTES
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Overview
Prince2 is not prescriptive.
There are:
• 7 Principles (philosophies)
• 7 Themes
• 7 Processes (phases of project management)
Key ideals of PRINCE2:
• Flexibility and tailoring.
• Focus on benefits.
• Interventions over actions.
• Be clever, not careful.
• Efficient, not everything.
Six (6) Performance variables or targets (things that need to be controlled):
• Cost
• Time
• Quality (fit for purpose- does what it is supposed to do)
• Scope – what gets delivered by the project.
• Benefits
• Risk
1. Continued business justification – there must be a reason to begin the
project. All work is for an outcome and all outcomes must be worked on.
2. Learn from Experience – project management is a practice that can be
improved.
No new failure is as foolish as the one that was repeated.
3. Defined roles and responsibilities – the “who” question is about a clear
power structure.
Every stakeholder needs to be suitably represented. Not just the right people,
but people doing the right things.
4. Manage by stages – this forces us to have a separate initiation stage.
The project is only authorised to continue until it’s not.
, 5. Manage by exception – authority is given to manage the project within
tolerances (the deviation above or below a plan’s target).
Decisions happen at the lowest appropriate level, no higher.
6. Focus on products (outcomes/results).
It’s not what we do that matters most, it’s what the result is.
7. Tailor to suit the project (IMPORTANT)
There is no “best” practice, there is only the “most suitable”.
There needs to be at least two (2) stages: initiation and management.
Tailoring is important, it’s done during the initiation stage and tracked on an
ongoing basis.
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Seven (7) Themes
Aspects of a project that must be managed throughout.
1. Business Case – is it still valid, desirable, viable and achievable?
2. Organisation – who will do what?
a. There are 3 stakeholders: business, user and supplier.
b. There are 4 layers: corporate, directing, management and team.
3. Quality – what are we creating (FIT FOR PURPOSE)
a. Customers’ quality expectations and acceptance criteria.
b. Quality planning and quality control.
c. Quality management approach and quality register.
4. Plans – how will we do this?
a. Management stages and the planning horizon.
b. Project plan, stage plan, team plan, exception plan.
c. Product-based planning, not process-based activities.
5. Risk - what if this happens?
a. Can be threats or opportunities.
b. Apply a risk management approach and keep a risk register.
6. Change - what is the impact of this?
a. Baseline reference levels needed to monitor and compare to.
b. Possible issues: off-specification, request for change or other
problem/concern.
c. Must use an issue register and the change control approach.
7. Progress – where are we now?
a. We compare progress in all 6 project variables.
b. Consider event- driven or time-driven controls.
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