Pass the PRINCE2 PRINCE2 Certification Prince2-Foundation Questions and answers with CertsForce

A Project Manager agrees on the Work Package cost tolerances with a Team Manager. This agreement defines the acceptable cost variance within which the Team Manager can operate without needing further approval. References: PRINCE2® Foundation official study materials.

The guiding obligations and good practices which determine whether a project is genuinely being managed using PRINCE2 form the 'Principles' of the method. PRINCE2 is founded on seven principles that must be present in the project management approach to consider the project being managed using PRINCE2. References: PRINCE2 Foundation manual, PRINCE2 official resources

The Managing Product Delivery process in PRINCE2 links the Project Manager and Team Manager roles. This connection is crucial as the Project Manager assigns work to the Team Manager, who is responsible for the production of the project's products, ensuring that the work is done to the right quality, at the right time, and within cost constraints. References: PRINCE2 Foundation manual, PRINCE2 official resources

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In PRINCE2, a risk is defined as any uncertain event or set of events that, if it occurs, will have an impact on the achievement of project objectives. This definition emphasizes the uncertainty and potential effect on objectives, rather than the certainty or immediate occurrence of an event. References: PRINCE2® Foundation Training Manual; PRINCE2® 2017 Foundation handbook.

An off-specification in PRINCE2 is considered a type of issue that arises when a project deliverable is forecasted to deviate from its agreed-upon specifications or requirements. It is an important part of the issue and change control procedure in PRINCE2, where it's recognized and managed to ensure the project stays aligned with its objectives. References: PRINCE2 Foundation Training Manual, PRINCE2 official website

When the project board reviews whether the investment remains justified as the project progresses, this application of the 'manage by stages' principle is evident. This principle ensures that at the end of each stage, the project board reassesses the business case and the viability of the project before deciding to continue with the next stage.References: PRINCE2® 7 Foundation resources on the 'manage by stages' principle.

When executing a Work Package, the Team Plan is used to organize and control the work. The Team Plan is derived from the Stage Plan and provides detailed allocations and explanations of how the team will deliver the work package assigned to them. It focuses specifically on the tasks and resources at the team level, detailing the schedule and resources needed to complete the work.References: (PRINCE2® 7 Foundation Handbook, AXELOS)

A requirement in the context of PRINCE2® is defined as a documented need or expectation that is formally approved and used as a basis for further project development. This documentation typically includes specific details about project scope, expected outcomes, and performance criteria, which are crucial for project planning and execution.References: = PRINCE2® 7 Foundation Training Manual and official PRINCE2® website documentation

A leadership activity within a PRINCE2 project involves several responsibilities, one of which is agreeing on work packages with team managers. This agreement includes specifying the tools and techniques to be used for product delivery. This activity is crucial for ensuring clarity and mutual understanding of how work is to be conducted, facilitating effective delegation and accountability within the project team.References: (PRINCE2® 7 Foundation Study Guide, AXELOS)

The 'Managing Product Delivery' process in PRINCE2® is where the specified quality methods are applied to ensure that a product meets its quality criteria. This process focuses on the acceptance, execution, and delivery of the project's products, ensuring that they are produced to the defined quality standards as part of the overall project delivery.References: = PRINCE2® 7 Foundation Training Manual and official PRINCE2® website documentation