PRINCE2 Practitioner flashcards
PRINCE2 Practitioner · Build recall with a focused review session.
32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Business case owner
- The executive is accountable for the business case. It is developed at the start, updated at each end stage and exception, and confirmed as viable at each end stage.
- Do-nothing option
- A business option that must always be evaluated in the business case and used as the baseline against which the other options are compared.
- Benefits versus outcomes
- Outputs are produced by the project; outcomes result from using the outputs; benefits are the measurable improvements resulting from the outcomes, expressed in measurable terms.
- Investment appraisal techniques
- Methods used to compare business options in the business case, such as whole-life costs, net benefits, payback period, return on investment and discounted cash flow.
- Executive role
- The single point of accountability for the project, owner of the business case, and chair of the project board; supported by the project manager for day-to-day management.
- Senior user role
- A project board role accountable for specifying the needs of users and for realising the benefits; represents the users' interests and validates the delivered products.
- Senior supplier role
- A project board role providing resources and technical authority, accountable for the quality of products delivered by the supplier and for feasibility of the plan.
- Project assurance
- A project board responsibility to monitor the project independently of the project manager, team manager and project support, covering business, user and supplier assurance.
- Team manager role
- Manages the work of a team, reports to the project manager rather than the project board, and may be internal or external to the organisation.
- Quality management approach
- Part of the PID describing the project's quality standards, procedures, techniques and responsibilities, approved by the project board and used for quality planning and control.
- Product description contents
- A document for each product containing purpose, composition, derivation, quality criteria, quality method and quality tolerance, used to plan and control quality.
- Quality review roles
- Chair, presenter, reviewer and administrator. The presenter is usually the product's author; the review follows plan, prepare, conduct and follow-up steps.
- Quality register
- A register recording all planned quality activities, such as reviews and tests, and their status, updated as quality activities are completed.
- Quality tolerance
- The acceptable range for each quality criterion, defined in the product description, allowing measurable assessment of whether a product meets its criteria.
- Three plan levels
- Project plan, stage plans and team plans; exception plans are created when tolerances are forecast to be exceeded and replace the affected plan.
- Product-based planning steps
- Write the project product description, create the product breakdown structure, write product descriptions, and create the product flow diagram showing dependencies.
- Project plan purpose
- Shows the major products, activities and resources for the whole project and provides the baseline against which progress is measured and reported.
- Estimation techniques
- Analogous, parametric, three-point and effort-based estimating; each estimate should record its basis and assumptions so it can be reviewed and updated.
- Six plan tolerances
- Time, cost, scope, quality, risk and benefit. The project board sets project-level tolerances and the project manager sets stage-level tolerances.
- Risk management procedure
- Identify, assess (estimate and evaluate), plan, implement and communicate; risk management is a continual activity across the whole project lifecycle.
- Risk owner versus actionee
- The risk owner is accountable for managing a specific risk; the risk actionee implements the agreed response. The two roles may be combined.
- Risk response types
- For threats: avoid, reduce, transfer and accept. For opportunities: exploit, enhance, share and accept. Responses are recorded in the risk register.
- Risk budget
- A sum of money set aside by the project board to cover the cost of risk responses, held and used by the project manager within agreed tolerances.
- Risk register contents
- Records each risk's description, cause, effect, owner, probability, impact, proximity and status, and is reviewed throughout the project.
- Change control procedure
- Capture the change, assess its impact, approve or reject it, and implement it; requests are recorded in the issue register and tracked in the change log.
- Off-specification
- A product that does not meet its quality criteria; it must be reported as an issue and approved by the project board before being accepted.
- Configuration management elements
- Planning, identification, control, status accounting and verification; configuration item records track each product's version and status.
- Change authority
- A person or group delegated by the project board to approve changes within limits set by the change budget and the change control approach.
- Tolerance and exception
- Tolerance is the permissible deviation from plan without escalation; exceeding it requires an exception report and possibly an exception plan.
- Report types
- Checkpoint reports from team manager to project manager, highlight reports from project manager to project board, and end stage reports at stage boundaries.
- End stage assessment
- Held at the end of each stage, where the project board reviews the end stage report and approves the next stage plan before work continues.
- Lessons log purpose
- Captures lessons throughout the project; lessons are reviewed at each end stage and a lessons report is produced at project closure.