Prince2 Lesson 02
Short Description
prince 2...
Description
PRINCE2® Foundation Lesson 2—PRINCE2® Principles
Based on AXELOS PRINCE2® material. Material is reproduced under licence from AXELOS.
PRINCE2 is a registered trademark of AXELOS Limited.
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Objectives After completing this lesson, you will be able to:
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List the seven principles of PRINCE2® methodology
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Explain the seven principles of PRINCE2® methodology
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Seven Principles of PRINCE2® The seven principles of PRINCE2® are as follows:
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Continued Business Justification A PRINCE2® project has continued business justification.[1] Requirements for a PRINCE2® project are as follows:
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There should be a justifiable reason to start a project.
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The justification should remain valid throughout the life of the project.
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Although the justification should remain valid, it may change or evolve.
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The justification should be approved and documented in a Business Case.
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If, for any reason, the project can no longer be justified, the project should be stopped.
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Learn from Experience PRINCE2® project teams learn from previous experience: lessons are sought, recorded and acted upon throughout the life of the project.[2]
The main features of this principle are: ●
The teams learn from historical data based on previous similar projects in the same organisation or from a different organisation, however in the same industry.
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They learn when the project starts, as it progresses and when it closes.
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It is the responsibility of everyone involved with the project to proactively seek lessons learnt. A Japanese bank is to provide partial funding for an infrastructure project in a developing country. However, they want an assurance from the local government as a similar project in the past had faced local labour problems.
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Roles and Responsibilities A PRINCE2® project has defined and agreed roles and responsibilities within an organization structure that engages the business, user and supplier stakeholder interests.[3]
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Manage by Stages A PRINCE2® project is planned, monitored and controlled on a stage-by-stage basis.[4] The different features of this principle are: ●
PRINCE2® suggests that the work be divided in multiple logical stages called management stages.
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The production of the project is carried out in phases called technical stages.
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A PRINCE2® project should have minimum two management stages: one initiation stage and one or more further management stages.
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Shorter the stages, more the control and vice-versa.
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Stages are to be planned, delegated, monitored and controlled according to the business priority, risk and complexity involved.
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Manage by Exception A PRINCE2® project has defined tolerances for each project objective to establish limits of delegated authority.[5] Every PRINCE2® project has four levels of management. They are:
Corporate or programme management Directing—Project Board Managing—Project Manager Delivering—Team Manager
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The Corporate or Programme Management appoints an Executive, whose responsibility is to get the project executed as per the tolerances defined by them. Project Board is responsible for providing overall direction and management to the project. The Project Board appoints Project Manager to take care of day-to-day management of the project within the constraint set by the Project Board. The Project Manager gets the work done through Team Managers, who deliver the actual specialist product of the project.
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Manage by Exception (contd.) According to PRINCE2®, the Project Manager controls six aspects of the project and they are Time, Cost, Scope, Benefits, Risks and Quality. ●
If the tolerances are forecast to be exceeded, they are immediately referred to the next management layer for a decision.
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Right decisions are made by the right level of people at the right time.
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Focus on Products A PRINCE2® project focuses on the definition and delivery of products, in particular their quality requirements.[6] The product description includes each product’s purpose, composition, derivation, format, quality criteria and quality method. ●
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Product description is used to: o
estimate efforts.
o
determine resource requirements.
o
determine dependencies.
o
determine schedule of activities.
A successful project is output-oriented and not activity-oriented. An output-oriented project is one that agrees and defines the project’s products prior to undertaking the activities required to produce them.
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Tailor to Suit the Project Environment PRINCE2® is tailored to suit the project’s environment, size, complexity, importance, capability and risk.[7]
Project Initiation Documentation (PID) describes how the method is being tailored for a project.
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Tailor the project management method to suit the project environment such as business processes for human resource, finance and procurement management.
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Set project controls based on: o
Scale
o
Complexity
o
Importance
o
Capability
o
Risks involved in the project Copyright 2014, Simplilearn, All rights reserved.
Quiz
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QUIZ 1
Which of the PRINCE2® principles supports the definition of tolerances for the six project objectives? a.
Manage by stages
b. Tailor to suit the project environment
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c.
Focus on products
d.
Manage by exception
Copyright 2014, Simplilearn, All rights reserved.
QUIZ 1
Which of the PRINCE2® principles supports the definition of tolerances for the six project objectives? a.
Manage by stages
b. Tailor to suit the project environment c.
Focus on products
d.
Manage by exception
Answer: d. Explanation: Manage by exception principle supports the definition of tolerances for the six project objectives. 14
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QUIZ 2
If the projects are based on the management by exception principle, which of the following benefits does it provide? a.
Promotes consistency of project work
b. Project is not seen as an end in itself
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c.
Provides clarity of what a project will deliver, why, by whom, and when
d.
Efficient and economic use of management time
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QUIZ 2
If the projects are based on the management by exception principle, which of the following benefits does it provide? a.
Promotes consistency of project work
b. Project is not seen as an end in itself c.
Provides clarity of what a project will deliver, why, by whom, and when
d.
Efficient and economic use of management time
Answer: d. Explanation: The implementation of management by exception provides efficient and economic use of senior management time. 16
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QUIZ 3
The incorporation of the primary stakeholders in the project management team supports which principle? a.
Continued business justification
b. Defined roles and responsibilities
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c.
Manage by stages
d.
Manage by exceptions
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QUIZ 3
The incorporation of the primary stakeholders in the project management team supports which principle? a.
Continued business justification
b. Defined roles and responsibilities c.
Manage by stages
d.
Manage by exceptions
Answer: b. Explanation: The incorporation of the primary stakeholders in the project management team supports defined roles and responsibilities principle. 18
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QUIZ 4
Which PRINCE2® principle supports planning only to a level of detail that is manageable and foreseeable? a.
Continued business justification
b. Defined roles and responsibilities
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c.
Manage by stages
d.
Manage by exceptions
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QUIZ 4
Which PRINCE2® principle supports planning only to a level of detail that is manageable and foreseeable? a.
Continued business justification
b. Defined roles and responsibilities c.
Manage by stages
d.
Manage by exceptions
Answer: c. Explanation: Manage by stages principle supports planning only to a level of detail that is manageable and foreseeable. A PRINCE2® project is planned, monitored and controlled on a stage-by-stage basis. 20
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QUIZ 5
As per PRINCE2®, the three primary stakeholders in the project are:
a.
Business, users and suppliers
b. Business, users and customers
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c.
Users, suppliers and customers
d.
Customers, business and trader
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QUIZ 5
As per PRINCE2®, the three primary stakeholders in the project are:
a.
Business, users and suppliers
b. Business, users and customers c.
Users, suppliers and customers
d.
Customers, business and trader
Answer: a. Explanation: As per PRINCE2®, the three primary stakeholders in the project are business, users and suppliers. 22
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QUIZ 6
Which PRINCE2® principle ensures that the project is viable, achievable and desirable?
a.
Continued business justification
b. Manage by exception
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c.
Focus on products
d.
Tailor to suit the project environment
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QUIZ 6
Which PRINCE2® principle ensures that the project is viable, achievable and desirable?
a.
Continued business justification
b. Manage by exception c.
Focus on products
d.
Tailor to suit the project environment
Answer: a. Explanation: Continued business justification principle ensures that the project is viable, achievable and desirable. A PRINCE2® project has continued business justification, which should remain valid throughout the life of the project. 24
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QUIZ 7
Which PRINCE2® principle ensures that the PRINCE2® project delivers the product as per quality requirements? a.
Continued business justification
b. Manage by exception
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c.
Focus on products
d.
Tailor to suit the project environment
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QUIZ 7
Which PRINCE2® principle ensures that the PRINCE2® project delivers the product as per quality requirements? a.
Continued business justification
b. Manage by exception c.
Focus on products
d.
Tailor to suit the project environment
Answer: c. Explanation: Focus on products principle ensures that the PRINCE2® project delivers the product as per quality requirements. Without it, projects are exposed to major risks such as acceptance disputes, uncontrolled change (scope creep) and user dissatisfaction. 26
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QUIZ 8
Which of the following PRINCE2® principles ensures that project management effort and approach are appropriate for the needs of the project? a.
Continued business justification
b. Manage by exception
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c.
Focus on products
d.
Tailor to suit the project environment
Copyright 2014, Simplilearn, All rights reserved.
QUIZ 8
Which of the following PRINCE2® principles ensures that project management effort and approach are appropriate for the needs of the project? a.
Continued business justification
b. Manage by exception c.
Focus on products
d.
Tailor to suit the project environment
Answer: d. Explanation: Tailor to suit the project environment principle ensures that project management effort and approach are appropriate for the needs of the project. PRINCE2® is tailored to suit the project’s environment, size, complexity, importance, capability and risk. 28
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QUIZ 9
Justification for a PRINCE2® project is documented in:
a.
Project Initiation Documentation (PID)
b. Business Case
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c.
Project Brief
d.
Stage Plan
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QUIZ 9
Justification for a PRINCE2® project is documented in:
a.
Project Initiation Documentation (PID)
b. Business Case c.
Project Brief
d.
Stage Plan
Answer: b. Explanation: A PRINCE2® project has continued business justification. The justification is documented in a Business Case. 30
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QUIZ 10
A PRINCE2® project should have at least how many management stages?
a.
Two
b. Three
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c.
Four
d.
Seven
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QUIZ 10
A PRINCE2® project should have at least how many management stages?
a.
Two
b. Three c.
Four
d.
Seven
Answer: a. Explanation: PRINCE2® requires a minimum of two management stages: one initiation stage and one or more further management stages. 32
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Summary Here is a quick recap of what we have learnt in this lesson:
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A PRINCE2® project has continued business justification PRINCE2® project teams learn from previous experience: lessons are sought, recorded and acted upon throughout the life of the project A PRINCE2® project has defined and agreed upon roles and responsibilities within an organisation structure that engages the business, user and supplier stakeholder interests A PRINCE2® project is planned, monitored and controlled on a stage-bystage basis A PRINCE2® project has defined tolerances for each project objective to establish limits of delegated authority A PRINCE2® project focuses on the definition and delivery of products, in particular, their quality requirements PRINCE2® is tailored to suit the project’s environment, size, complexity, importance, capability and risk Copyright 2014, Simplilearn, All rights reserved.
Thank You
PRINCE2 is a registered trademark of AXELOS Limited.
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Copyright 2014, Simplilearn, All rights reserved. Copyright 2014, Simplilearn, All rights reserved.
References [1] Based on Managing Successful Projects with PRINCE2®, by AXELOS. Principles, Continued Business Justification. [2] Based on Managing Successful Projects with PRINCE2®, by AXELOS. Principles, Learn from Experience. [3] Based on Managing Successful Projects with PRINCE2®, by AXELOS. Principles, Defined Roles and Responsibilities.
[4] Based on Managing Successful Projects with PRINCE2®, by AXELOS. Principles, Manage by Stages. [5] Based on Managing Successful Projects with PRINCE2®, by AXELOS. Principles, Manage by Exception.
[6] Based on Managing Successful Projects with PRINCE2®, by AXELOS. Principles, Focus on Products. [7] Based on Managing Successful Projects with PRINCE2®, by AXELOS. Principles, Tailor to Suit the Project Environment. 35
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