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PRINCE2 FOUNDATION QUESTIONS WITH ANSWERS
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PRINCE2 FOUNDATION QUESTIONS WITH ANSWERS
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PRINCE2 FOUNDATION QUESTIONS WITH ANSWERSDefinition of a project - Answers-A temporary organisation that is created for the
purpose of delivering one or more business products according to an agreed business
case.
Six aspects of project performance to be managed - Answers-Cost - may start with a
budget for the project
Timescales - When will it be finished
Quality - Project product must be fit for purpose
Scope - Exactly what will the project deliver
Benefits - Why are we doing this? PM needs clear understanding
Risk - All projects entail risk but how much risk are we prepared to accept
What makes a P2 project? - Answers-As a minimum the project must be:
* applying P2's principles
* meeting the minimum requirements set out in P2 themes
* has project processes that satisfy the purpose & objectives of the P2 processes
* is either using P2's recommended technique or using alternative equivalent techniques
Describe the features of P2 - Answers-* focuses on business justification
* defining the structure of an organisation for the project management team
* using a product-based approach
* provides great control over project resources
* emphasis on dividing the project into manageable and controllable stages
* excels at managing business and project risk more effectively
Describe the benefits of P2 - Answers-* simple
* product-based and divides projects into different stages, to make it easy to manage
* improves communication between all team members switch external stakeholders
* gives stakeholders the chance to have a say about decision making
* consistent approach
* focuses on business justification
* provides greater control on the plan, by regular services of project progress
Describe the customer/supplier context on which P2 is based - Answers-P2 assumes
there will be a customer who will specify the desired result and (usually) pay for the
project and a supplier who will provide the resources and skills to deliver that result.
P2 refers to a supplier as a person, group or groups responsible for the supply of the
project's specialist products.
7 P2 principles - Answers-Continued business justification, learn from experience,
defined roles and responsibilities, manage by stages, manage by exception, focus on
products, tailor to suit the project
Continued business justification - Answers-P2 requires that for all projects:
,* there is a justifiable reason for starting the project
* the justification is recorded and approved
* the justification remains valid and is revalidated throughout the life of the project
usually documented in some form of business case
* format and formality of documentation depends upon:
- organisational standards, needs, circumstances
* it ensures the project remains aligned with the benefits that contribute towards the
business objectives
* without 'CBJ', projects may proceed with few real benefits
* justification may change so enduring justification must remain consistent
* if project can no longer be justified, it must stop
What are the integrated elements of P2? - Answers-Principles, themes, processes, the
project environment
Principles - Answers-Guiding obligations and good practices which determine whether
the project is genuinely being managed using P2.
There are 7 principles and unless all of them are applied, it is NOT a P2 project
Themes - Answers-These must be addressed continually and in parallel throughout the
project
The 7 themes explain the specific treatment required by P2 for various project
management discipline and why they are necessary
Processes - Answers-The 7 processes describe a progression from the pre-project
activity of getting started, through the stages of project lifecycle to find out the project
channel.
Each process has checklists of recommended activities, products and related
responsibilities.
The project environment - Answers-Organisations often want a consistent approach to
managing projects and tailor P2 to create their own project management method.
This method is then embedded int the organisation way of working.
Learn from experience - Answers-* project teams learn from experience: lessons are
sought, recorded advanced upon throughout the life of the project
* starting a project - previous or similar projects should be reviewed to see if lessons
could be applied
* as the project progresses - lessons should be included in relevant reports and reviews
* as the project closes - the project should pass on lessons unless lessons provoke
change.
Defined roles and responsibilities - Answers-A P2 project has defined and agreed roles
and responsibilities within an organisation structure that engages the business user and
supplier stakeholder interests.
, To be successful, projects must have an explicit project management team structure
consisting of defined and agreed roles and responsibilities for the people involved in the
project and a means for effective communication between them.
Primary stakeholders:
* 'business' sponsors who endorse the objectives and ensure that the business
investment provides value for money
* 'users' who after the project is completed, who will use the products to enable the
organisation to gain the expected benefits
* 'suppliers' who provide the resources and expertise required by the project (internal or
external)
* all 3 stakeholders need to be represented effectively in the PM team
Management stage definition - Answers-The section of a project that the project
manager is managing on behalf of the project board at any one time, at the end of which
the project board will visit to review, progress to date, the state of the project plan, in
order to describe whether to continue with the project.
Manage by stages - Answers-A P2 project is planned, monitored and controlled by
management stage
The choice of appropriate management stages for a project will depend on a number of
factors including:
* the size and complexity of the project
* significant decisions and control points required
* organisational policies and standards
In a P2 project, it must have at least 2 management stages: initiation stage and at least
one further management stage
The PB delegate the authority for day to day control of a management stage within
agreed tolerance to the PM
Manage by stages 2 - Answers-The focus on managing by stages ensuring that the
project is properly initiated before work stages on delivery of the project's outputs. It
also:
* provides review and decision points giving the PB opportunity to assess the project's
viability at defined intervals
* to ensure key decisions are made prior to detailed work needed to implement them
* clarification of what the impact will be of on ******** external influence
* delegating authority to the project manager management stage by management stage
* PB authorises 1 management stage at a time
* Towards the end of each management stage (not the last one), PM reviews the
business case and project plan, updates the project documentation with stage results
and creates an end stage report and stage plan to request authorisation for the next
stage
* End stage report and next stage plan contains all information necessary to enable the
project board to conduct an end stage assessment and make a decision to proceed or
not
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