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PRINCE2 Fundamentals
Learn PRINCE2 basics & how to apply it in projects with appropriate risk management. Prepare for PRINCE2 certification. Become Project/Product ManagerPreview PRINCE2 Fundamentals course
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PRINCE2 is one of the leading and most practiced methodologies for project management. It is applicable to all types of projects and mostly used in the UK, Australia and European nations. Prince2 stands for Project in controlled environment. PRINCE2 also includes core project management principles like outlining your project scope and budget, which makes it a good option for beginners.
PRINCE2 recommends 7 principles, processes which provide a framework for good practice.
1. Continued business justification
2. Defined roles and responsibilities
3. Focus on product
4. Learn from experience
5. Manage by exception
6. Manage by stages
7. Tailor to suit project environment
PRINCE2 framework perceives six points of view or areas that ought to be administered in each endeavor - Scope, Cost, Timescale, Risk, Quality, Benefit.
PRINCE2 gives a series of processes in a sequence through which each project has to go to achieve maximum efficiency.
1. Starting up a project
2. Directing the project
3. Project initiation
4. Stage control
5. Product delivery management
6. Managing stage boundaries
7. Project closing
With PRINCE2 framework, there are three categories of stakeholders with a set of roles and responsibilities. The project board roles and responsibilities are made up of three primary interests - The Business interest, he User interests, The Supplier interests.
The PRINCE2 project organization roles and responsibilities include 4 levels, which are:
1. Corporate or program management
2. The Project Board
3. The Project Manager
4. Team members
Uplatz provides this fundamental course on PRINCE2 principles. This PRINCE2 course will help you get familiarized with the PRINCE2 methodologies leading to successful project management. The PRINCE2 course will help you become an influential and effective Project Manager.
Course/Topic - PRINCE2 Fundamentals - all lectures
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Lecture 1 - Introduction to PRINCE2
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Lecture 2 - PRINCE2 Principles
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Lecture 3 - Aspects - Phases - Conclusion
• Understand the basic concepts of PRINCE2 methodology of project management.
• Manage projects or work in a project environment using the most globally recognized project management method.
• Deliver to budget, quality and time, while mitigating risks, managing interdependencies and identifying opportunities.
• Use a Structured approach with controls to provide a delivery methodology that works repeatedly and will enable you to successfully deliver projects.
• Design plans and reports to meet the needs of each level in the project team and Project Board, therefore, improving communication and control.
1. What is PRINCE2?
PRINCE2 (PRojects IN Controlled Environments) is a structured project management method and practitioner certification program. PRINCE2 emphasizes dividing projects into manageable and controllable stages.
2. What do you understand by ‘Project’?
A project is a temporary endeavor that is undertaken to produce a unique product or solution. In other words, a project has a definite beginning and ending along with the final product must be specific to the project. A project that doesn’t have these properties can be harmful to our organization as it will be eating up our time, space and other resources.
3. What are the 7 themes of PRINCE2?
Below are the 7 themes:
1) Business Case
2) Organization
3) Quality
4) Risk
5) Planning
6) Change
7) Progress
4. What are the 7 processes of PRINCE2?
Below are the 7 processes:
1) Starting Up A Project (SU)
2) Initiating A Project (IP)
3) Directing A Project (DP)
4) Managing Product Delivery (MP)
5) Controlling A Stage (CS)
6) Managing A Stage Boundary (SB)
7) Closing A Project (CP)
5. Give a proper definition of a project.
Any undertaking carried out individually or collaboratively and possibly involving research or design, that is carefully planned (usually by a project team) to achieve a particular aim is called a project.
6. What are the key features of prince 2?
Ans. The key features of Prince2 are:
1) It is well organized
2) You can apply it to any project
3) It is based on management by exception
4) It has some extraordinary diagnostic tools to offer
5) It is consistent and reusable.
7. List down the key features of PRINCE2® Certification.
Below I have listed down the major features of PRINCE2® Certification:
1) The main focus is on business justification
2) Neatly defined organization structure for the project management team
3) Planning approach is majorly based on the product
4) It emphases more on dividing the project into manageable and controllable stages
5) Helps in maintaining the consistency of the project work
6) Enhances the reusability of project modules
7) Flexibility can be applied at any level which is appropriate to the project
8) Widely organized and understood by the project management professionals
9) Considered to be an invaluable diagnostic tool for project management
9.What are the various steps involved in directing a project?
Directing a Project involves various activities such as:
1) Supporting a project
2) Accepting the results or final outcomes
3) Providing approval from the management
10. Which process can be carried out without following the Closing a Project (CP)?
Managing Product Delivery process can be carried out easily without following the PRINCE2® methodology.
11. Which role is responsible for confirming the stage and project progress against the agreed tolerances?
Project Assurance is usually responsible for confirming the stage and project progress against the agreed tolerances.
12. Which role is responsible for producing a Product Status Account?
Project Support responsible for producing a Product Status Account
13. Which role is responsible for drafting the outline Business Case?
The executive is responsible for drafting the outline Business Case.
14. Which role assures the stage and project progress against agreed tolerances?
Project Assurance confirms stage and project progress against agreed tolerances.
15. What are the two types of progress controls provided by PRINCE2?
Prince2 provides time-driven and event-driven progress control.