Prince2 Interview Questions & Answers

Prince2 stands for project in controlled environment. It is a process based method which is used for effective project management.

A project is a temporary endeavor that is unique with a definite start and an end time with a desired result.

The key features are –

  • Widely organized and understood
  •  Can be applied to any project
  •  Based on management by exception
  •  Invaluable diagnostic tool
  •  Consistency and reusability in project work.

A plan defines –

  •  Risks, Resources , Communication
  •  Scope, Budget, Schedule, Quality

The levels of plan are –

  •  Project Plan
  •  Stage Plan
  •  Team Plan
  •  Exception Plan

The Planning steps are –

  • Designing the pal
  •  Define the products
  •  Identify Activities and Dependencies
  •  Prepare Estimates
  •  Prepare Schedule
  •  Document plan
  •  Identify Risks

The process model includes:-

  •  Directing a project(DP)
  •  Starting up a project(SU)
  •  Initiating a project(IP)
  •  Controlling a stage(CS)
  •  Managing a project delivery(MP)
  •  Managing a stage Boundary(SB)
  •  Closing a Project(CP)

It performs:-

  • Support project
  •  Accept Results
  •  Provides Management Approval

During managing a Stage Boundary process the request to approve the next Stage Plan is made.

Managing Product Delivery allows non-PRINCE2 practices to be integrated into a PRINCE2 project environment when creating products.

Project Support responsible for producing a Product Status Account

Executive is responsible for drafting the outline Business Case.

Project Assurance confirms stage and project progress against agreed tolerances.

The two types of progress controls provided by PRINCE2 are –

  • Time-driven
  •  Event-driven

Initiating a Project process triggers the request to deliver a project.

Project Board is responsible for communicating with stakeholders.

Managing Product Delivery process can be carried out without using PRINCE2.

During Managing Product Delivery process Checkpoint Report is produced.

Product Checklist document contains the planned and actual dates for product approval and hand-over.

Progress addresses the ongoing viability of the different project plans.

Project support maintains the Quality Register.

Corporate or Program management has the responsibility of setting project tolerances.

Senior User is responsible for defining and verifying user requirements and expectations.

The purpose of Configuration Management is to track products.

Project Product Description document defines the acceptance criteria and roles for the project. This is created in the Starting up a Project process and used during the Closing a Project process to help verify that the project has delivered to expectations.

During Controlling a Stage process the Work Package status is reviewed.

Executive is responsible for determining the Change Authority and change budget.

The objectives are –

  • To ensure there is authority to initiate, deliver and close the project
  •  To ensure management direction and control are provided throughout the project and that the project remains viable
  •  Plans for realizing post project benefits are managed and reviewed

The purpose of the Managing Product Delivery process is to control the link between the Project Manager and the Team manager(s).

The primary objective of the Quality Review Technique is to involve key interested parties in promoting wider acceptance of the product.

The purpose of a Checkpoint Report is to updates the project Manager on the status of a Work Package.

Users, Suppliers and Business Sponsors are the primary stakeholders in a PRINCE2 project.

The principles are –

  • Manage by stages
  •  Focus on products
  •  Manage by exception
  •  Tailor to suit the project environment
  •  Continued business justification
  •  Learn from experience
  •  Defined roles and responsibilities

Prince2 Theme is as follows:-

  • Business case
  •  Progress
  •  Change
  •  Risks
  •  Plans
  •  Quality
  •  Organization

The PRINCE2 method is used to address project management through the four integrated elements of principles processes, the project environment and themes.

It is a table which is used to contain the risks that may threaten the goal of the project.

Quality register is used to contain the details of all planned quality activities, personnel involved and dates.

It is a set of notes about change requests, complaints, concerns and problems sent by all project members.

  • Revalidates the project
  •  Kick start the project
  •  Owned by the business

The types are –

  • Compulsory
  •  Not for profit
  •  External Project
  •  Evolving Requirements
  •  Multi organization project

The activities are –

  • Prepare planned closure
  •  Prepare premature closure
  •  Handover products
  •  Evaluate projects
  • Recommended project closure

The prince2 deliverables are –

  •  Business case
  •  End of stage report
  •  Project plan
  •  Issue Log
  •  Work package
  •  Risk management plan

The planning approaches are –

  •  Work based Planning
  •  Deliverable / Product planning.

The activities are –

  •  Authorize project closure
  •  Authorize a stage or Exception plan
  •  Authorize Initiation
  •  Give ad – hoc support
  •  Authorize the project

The activities are –

  • Appoint the executive and project manager
  •  Prepare business case outline
  •  Select project approach
  •  Plan Initiation stage

The risk strategies are –

  •  Risk tolerance
  •  Risk Appetite
  •  Ongoing Activity
  •  Avoid, Seek, Neutral

In initiating a Project the justification of the project is examined and the project plan is created.

Project Board authorizes project initiation.

During initiating a project process the risk management strategy is created.

This blog will help you get a better understanding of Adopting PRINCE2 For Business Project Management!