PRINCE2 PRINCE2-7-Foundation Practice Test - Questions Answers, Page 22

According to the 'tailor to suit the project' principle in PRINCE2, effective project management is based on adapting the method to suit the project's environment. This means the approach to managing the project should be appropriate to the specific circumstances of the project, including its scale, complexity, importance, capability, and risk.

Reference: PRINCE2 Foundation Handbook, Tailoring PRINCE2 section.

The principle of 'manage by exception' in PRINCE2 involves setting tolerances for each project objective to establish clear limits of delegated authority. This allows for efficient use of management time and enables project managers to make decisions within the tolerance limits, while escalating issues that go beyond these limits.

Reference: PRINCE2 Foundation Handbook, Manage by Exception section.

An off-specification in PRINCE2 is a situation where a planned product does not meet its quality criteria or fails to deliver within the set tolerance levels. This could involve producing more or less of a product than was specified, or any other deviation from the product's agreed-upon specifications.

Reference: PRINCE2 7 Foundation Handbook and official training materials.

The first task in PRINCE2's recommended approach to 'defining and analyzing the products' is writing the Project Product Description. This document outlines what the project must deliver in order to gain acceptance. It serves as the basis for defining and analyzing more detailed product descriptions later in the process.

Reference: PRINCE2 7 Foundation Handbook and official training materials.

One of the objectives of the 'Starting up a Project' process in PRINCE2 is to appoint the project management team. This step ensures that the necessary leadership and management roles are filled with competent individuals who can plan, oversee, and execute the project effectively from its initiation through to closure.

Reference: PRINCE2 7 Foundation Handbook and official training materials.

The process that links the Team Manager role with the PRINCE2 method in a commercial environment is 'Managing Product Delivery'. This process ensures that the project's products are created and delivered efficiently and effectively, aligning the work of the team with the overall project management approach.

Reference: PRINCE2 7 Foundation Handbook and official training materials.

Setting tolerances for the three levels of plan (project, stage, and team) in PRINCE2 applies the principle of 'manage by exception'. This principle enables efficient use of management time by focusing on deviations from the plan only if they exceed predefined tolerances, rather than managing every small detail.

Reference: PRINCE2 Foundation Handbook, Manage by Exception section.

The level of tailoring in PRINCE2 should be defined during the initiation stage of the project. This stage involves setting up the proper foundation for the project by adapting the method to suit the project's environment, including deciding how much and which parts of the methodology to apply.

Reference: PRINCE2 Foundation Handbook, Tailoring PRINCE2 section.

An objective of the 'initiating a project' process in PRINCE2 is to ensure that the business case is kept under review. This involves establishing mechanisms to assess the ongoing viability of the project against its objectives and expected benefits.

Reference: PRINCE2 Foundation Handbook, Initiating a Project section.