Exam (elaborations)
PRINCE2 7TH EDITION FOUNDATION Q&A 2024
- Course
- Institution
PRINCE2 7TH EDITION FOUNDATION Q&A 2024
[Show more]
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GEEKA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now