PRINCE2 PRINCE2-7-Foundation Practice Test - Questions Answers, Page 42

An effective project team in PRINCE2 should be diverse, consisting of individuals with a variety of skills, abilities, and viewpoints. This diversity helps to ensure that the team can handle various aspects of the project effectively, bringing different perspectives to problem-solving and decision-making, which enhances the overall capability of the project team.

Reference: (PRINCE2 7 Foundation Handbook, AXELOS)

During the 'Maintain' step of the 'business case management' technique in PRINCE2, the project manager assesses the ongoing viability of the project against the business case, including whether the outcomes are likely to deliver the expected performance improvements post-project. This is a continuous process that ensures the project remains aligned with business needs and expected benefits throughout its lifecycle.

Reference: PRINCE2 7 Foundation documentation on business case management.

In PRINCE2, a management activity within a project typically involves formal agreements and organizational actions. Agreeing on a work package with a team manager is a core management activity, where specific tasks, responsibilities, and tolerances are defined and communicated, ensuring that the project's delivery aligns with the planned objectives and constraints.

Reference: PRINCE2 7 Foundation study materials on project management activities.

The objectives of the 'closing a project' process in PRINCE2 include reviewing whether the project was delivered within time and cost tolerances (2) and confirming whether operational staff are happy to take ownership of the products (3). These objectives ensure the project has met its management expectations and that the product transition to operations is smooth and accepted by relevant stakeholders.

Reference: PRINCE2 7 Foundation guide on the 'closing a project' process.

In the PRINCE2 methodology, the 'project mandate' is the term used for initial documentation that triggers the start of a project, typically provided by corporate or program management. It can often come in the form of a request for proposal received by an external supplier, setting out the initial definition of the project and what it aims to achieve, which then leads to more detailed project definitions in the 'starting up a project' process.

Reference: PRINCE2 7 Foundation resources on project initiation documentation.

In PRINCE2, the requirements for a product should be captured early in the process, specifically when the project team realizes the need for that product. This approach ensures that the project delivers what is actually required and expected. Capturing requirements early helps in detailed planning and allows for effective quality management throughout the product's development and delivery phases.

Reference: (PRINCE2 7 Foundation Handbook, AXELOS)

A forecast is a prediction made by studying historical data and past patterns. In project management, forecasting involves using data from the project's progress and external benchmarks to predict future project performance, helping in planning and decision-making processes.

Reference: (PRINCE2 7 Foundation Handbook, AXELOS)

To monitor the progress of a stage effectively, the project manager should review both the Highlight Report and Checkpoint Report. The Highlight Report provides a summary of the stage status to the Project Board, detailing overall progress and identifying any major issues. The Checkpoint Report, on the other hand, offers detailed updates from team managers or team members on the progress of their respective Work Packages. Together, these management products give a comprehensive view of stage progress.

Reference: (PRINCE2 7 Foundation Handbook, AXELOS)

Similar to question 411, the answer remains consistent for monitoring the progress of a stage. The combination of Highlight Reports and Checkpoint Reports provides the project manager with both high-level and detailed insights into the stage's progress. Highlight Reports summarize stage status for the Project Board, while Checkpoint Reports offer detailed progress updates from the team level.

Reference: (PRINCE2 7 Foundation Handbook, AXELOS)