PRINCE2 Practitioner: key terms

Flashcards for this exam PRINCE2 Practitioner guide

• Benefits Management ApproachPRINCE2 management product defining how and when benefits will be measured, including after the project closes.Intermediate
• Change AuthorityPRINCE2 person or group delegated by the Project Board to approve requests for change or off-specifications within limits.Intermediate
• Checkpoint ReportPRINCE2 progress report from a Team Manager to the Project Manager on a work package.Intermediate
• End Project ReportPRINCE2 report given by the Project Manager to the Project Board at closure, reviewing performance against the PID.Intermediate
• Exception ReportPRINCE2 report from the Project Manager to the Project Board when a stage or project is forecast to exceed tolerances.Intermediate
• Executive (PRINCE2)PRINCE2 role ultimately accountable for the project, ensuring it delivers value for money and owning the business case.Foundational
• Highlight ReportPRINCE2 time-driven report from the Project Manager to the Project Board on stage progress.Intermediate
• Manage by ExceptionPRINCE2 principle of setting tolerances for each objective and escalating only when tolerances are forecast to be exceeded.Foundational
• Managing a Stage BoundaryPRINCE2 process giving the Project Board what it needs to review the stage, approve the next stage plan, and confirm business justification.Intermediate
• Off-SpecificationPRINCE2 issue type for something that should be provided but currently is not, or is forecast not to be.Advanced
• PRINCE2Process-based project management method (PRojects IN Controlled Environments) owned by PeopleCert (AXELOS).Foundational
• PRINCE2 PracticesThe seven aspects of project management that must be addressed continually: business case, organizing, plans, quality, risk, issues, and progress.Foundational
• PRINCE2 PrinciplesThe seven universal PRINCE2 principles, from continued business justification to tailoring, that must all be applied in a PRINCE2 project.Foundational
• PRINCE2 ProcessesThe seven PRINCE2 processes, from Starting up a Project through Closing a Project, that describe who does what across the life cycle.Foundational
• Product Breakdown Structure (PBS)PRINCE2 hierarchy of all products to be produced during a plan.Intermediate
• Product DescriptionPRINCE2 management product describing a product's purpose, composition, derivation, quality criteria, and quality method.Intermediate
• Product Flow Diagram (PFD)PRINCE2 diagram showing the sequence of production and interdependencies of products in a PBS.Advanced
• Project AssurancePRINCE2 function independent of the Project Manager that monitors project performance on behalf of Project Board members.Intermediate
• Project BoardPRINCE2 group accountable for the project's success, consisting of the Executive, Senior User(s), and Senior Supplier(s).Foundational
• Project BriefPRINCE2 statement describing the purpose, cost, time, performance requirements, and constraints for a project, created in Starting up a Project.Intermediate
• Project Initiation Documentation (PID)PRINCE2 set of documents bringing together key information needed to start the project on a sound basis.Foundational
• Project MandatePRINCE2 trigger from the commissioning organization that initiates the Starting up a Project process.Intermediate
• Project Product DescriptionPRINCE2 description of the project's main output, including customer quality expectations and acceptance criteria.Intermediate
• Quality RegisterPRINCE2 record summarizing all planned and completed quality management activities.Advanced
• Request for Change (RFC)PRINCE2 issue type proposing a change to a baseline.Intermediate
• Senior SupplierPRINCE2 Project Board role representing those designing, developing, and implementing the project's products.Intermediate
• Senior UserPRINCE2 Project Board role representing those who will use the project's products and realize benefits.Intermediate
• Tailor to Suit the ProjectPRINCE2 principle that the method is adapted to the project's environment, size, complexity, importance, capability, and risk.Intermediate
• TailoringDeliberate adaptation of the approach, governance, and processes to suit the project's context.Intermediate
• ToleranceThe permissible deviation above and below a plan's target before escalation is needed.Intermediate