PRINCE2 is recognised as a world-class international product and is the standard method for project management. It embodies many years of good practice in project management and provides a flexible and adaptable approach to suit all projects.
If you fancy a laugh too, there are a couple of links to some fun cartoons. Here are some reasons to renew. Find out how ILX Group enhanced and developed core project management skills at global credit risk insurance firm Atradius. Find out how ILX Group in partnership with Sussex Health Informatics Service created unique learning pathways to support the delivery of enhanced front-line patient care through learning technology.
Project managers with the right skills and support are best placed to deliver successful projects. Read the ILX five step process to improve project management success.
Few people dream of becoming a project manager, but if you are someone who wants to start, or move into, a sometimes frustrating but always challenging career, then read on…. When every project is a priority and budgets are squeezed, how do you prioritise your projects? Some things to consider so your decision is less of a gamble.
Have you been there, done that and got the T-shirt in project management? Time to move on to programme management? Then here are a few things to consider. Find out how to choose the right solution for your project, including how to be agile in a project-focused environment. Reporting: Outline how risk reporting will be done and which documents will be used; e. Perhaps monthly risk reports are needed?
Timing of risk management activities: Specifies the point at which the risk re-analysis, register updates, and reporting will take place. Roles and responsibilities: This section defines who will be responsible for the risk register, who will perform the risk analysis and response plans and who will create reports.
The Project Manager and Project Support will normally take care of this unless a specific risk role is assigned to the project. Scales: The grading criteria for each risk, that is, for the Probability and Severity score, are defined in this section. Risk categories: Most projects will divide their risks into categories. Early warning indicators: It is a good idea to be able to quickly identify risks therefore it is important to define warning indicators which can be monitored to ensure a rapid response.
Corporate management sets project tolerances , the Project Board sets stage tolerances and the Project Manager sets Work Package tolerances. If the project tolerances are forecast to be exceeded, the project must request new tolerances from corporate management via an Exception Plan. Technical stages are NOT management stages often overlap — i.
Monitoring and reporting on a project requires a time-based approach whereas controlling the project i. By now, if you have learned the definitions provided in bold in this e-book you should be well-placed to pass the PRINCE2 Foundation exam with flying colours.
Good luck with your exam. Subscribe to download This article is the second in a series of three. Business Case The purpose of this theme is to put in place mechanisms which assists the senior decision makers to decide whether the project is and remains a worthwhile investment. Organization The purpose of this theme is to define and set up an project management team structure which defines who is accountable and responsible on the project. Plans The purpose of this theme is to define how, when, for how much, by whom and where the project will deliver products.
These are Project Plan used by the Project Board containing project levels costs, timescales and control points. An updated version is created at each stage end to reflect actual progress and revised forecasts; Stage Plan used by the Project Manager for day-to-day management of the project. There is one for each management stage; Team Plan used by a Team Manager — covers all the work done in a Work Package.
PRINCE2 recommends the following are included in the budget for a Plan: money to fund the activities to create specialist products and management activities ; money to fund responses to risks risk budget ; money to fund authorised changes to baseline products change budget ; cost tolerance.
The technique has 4 steps: Write the Project Product Description to define what the project must deliver in order to gain acceptance; Draw a Product Breakdown Structure to show the products within scope note: external products are those that already exist or are being created outside the scope of the plan ; Write Product Descriptions for the major products; Draw a Product Flow Diagram to define the sequence in which the products will be developed.
Risk The purpose of this theme is to identify, analyse and control uncertainty and thereby improve the chances of a successful project. Risks can be either: threats which have a negative impact , or opportunities which have a positive impact. Assess Estimate the probability likelihood , impact, proximity , and Evaluate the overall net effect of all risks. Plan one or more specific risk responses. Change The purpose is to identify, analyse and control any potential and approved changes to baseline products i.
Project Issues can be managed in 2 ways: Formally - requires formal advice from the Project Board — the issue gets logged in the Issue Register and an Issue Report is written.
Informally — the issue gets recorded in the Daily Log. Management stages Are subsets of the project culminating with a management decision point when the Project Board assesses the continuing viability of the project. Equate to commitment of resources and authority to spend. Highlight Reports and Checkpoint Reports. Event-driven controls — these take place when a specific event occurs e.
Exception Report. Some other examples of event-driven controls are: Work Package s - authorized by a Project Manager in order to trigger the work of a team. After filling in your candidate number on the answer sheet, the exam is ready to start.
At this point the invigilator will give you the question booklet. This will contain all of the 75 questions. You must write your candidate number on the front cover. This booklet may not leave the room, so if you go to the toilet during the exam, you must leave this booklet in the examination room. It must also be handed back to the invigilator at the end of the exam along with your answer sheet. In which of the following processes does the Project Board choose a suitable risk response? Controlling a Stage b.
Managing a Stage Boundary c. Directing a Project d. Starting Up a Project. Which of the following tasks form part of the product-based planning method? Writing the product descriptions ii. Creating a product flow diagram iii. Designing the plan iv. Creating the product breakdown structure.
For the above question, read the statements i-iv, and then decide which three form part of the product-based planning method.
I suggest that you read each of the 4 options and tick the ones you are sure form part of the technique. If there are only 2 options you are sure about, at least you have reduced your last decision to a choice between the 2 remaining options, so pick one of them and then mark your answer paper accordingly.
The number one revision method is to practice those exam questions! As the questions are compiled from a limited question bank, the more practice questions you attempt, the more prepared you will be.
Practising the sample papers also helps you to refine your technique, and you will be able to predict how well you are likely to perform in the actual exam. PRINCE2 Foundation exam tip - if you find it difficult to remember things, try colour-coding or highlighting your revision notes.
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