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According to the 'manage by exception' principle, which aspect of performance sets limits against the cost of aggregated threats?
The principle of 'manage by exception' in PRINCE2 involves setting limits on delegated authority concerning time, cost, quality, scope, risk, and benefits. Here, the aspect of performance that sets limits against the cost of aggregated threats is 'Cost'. This includes setting tolerances for what can be considered acceptable deviations from the plan before an issue needs to be escalated to a higher authority. Managing by exception helps in efficient use of management time and focuses on deviations that might affect the project's success. Reference: (PRINCE2 7 Foundation Handbook, AXELOS)
Identify the missing word(s) in the following sentence.
The 'controlling a stage' process is used to manage and control each [ ? ] of a project.
The 'Controlling a Stage' process in PRINCE2 is used to manage and control each 'delivery stage' of a project. This process focuses on the day-to-day management of the project stages, ensuring that the project remains within its agreed tolerances and effectively addressing issues as they arise. Reference: PRINCE2 Foundation Manual
Which of the following statements about quality assurance and Project Assurance is true?
Project Assurance in PRINCE2 is focused on the project's adherence to standards and procedures within the project environment, providing a project-level view of compliance. In contrast, Quality Assurance is an organizational level function that oversees compliance across all projects and operations, ensuring that the entire organization follows the prescribed standards. Reference: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.
Which statement describes a purpose of the 'starting up a project' process?
The purpose of the 'Starting up a Project' process is primarily to appoint people to the major roles within the project management team. This process ensures that the right people are in place with clear responsibilities before the project kicks off, facilitating effective planning and execution from the outset. Reference: PRINCE2 7 Foundation manual and the 'Starting up a Project' process documentation.
When is a work breakdown structure MOST useful?
A Work Breakdown Structure (WBS) is most useful when managing projects with multiple work packages that involve a combination of internal and external resources. The WBS helps in organizing and defining the total scope of the project by breaking down the project deliverables into smaller, more manageable components, facilitating better planning, allocation, and control of resources. Reference: (PRINCE2 7 Foundation Handbook, AXELOS)
