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Everything you need to pass the PRINCE2 with flying colors

The PRINCE2 Study Guide, Second Edition, offers comprehensive preparation for the latest PRINCE2 exam. Covering 100 percent of the exam objectives, this guide provides invaluable guidance that will help you master both the material and its applications; indeed, a practice-centered approach helps you "learn by doingö to help you internalize PRINCE2 concepts on a deeper level. Although the exam is heavily focused on detailed business process, this guide's accessible writing and real-world approach make learning fun. Each chapter poses a common project challenge, and walks you through the solution based on essential PRINCE2 principles. A year of FREE access to electronic study aids allows you to study anywhere, at any time, and expert instruction throughout breaks complex topics down into easily-digestible concepts.

The PRINCE2 exam is challenging, but thorough preparation is your best defense. Conceptual knowledge is important, but it isn't enough-knowledge is only useful if you can apply it. This book is designed as your personal PRINCE2 coach:

Master 100 percent of the PRINCE2 exam objectives
Apply your knowledge to real-world workplace scenarios
Test your understanding with challenging review questions
Access sample questions, electronic flashcards, and other study aids
PRINCE2 is globally recognized as one of the premier project management credentials; while less expansive than the PMP, the PRINCE2 is more intense and tightly focused on detailed business processes. Companies around the world are in need of qualified project management professionals to optimize processes and boost organizational performance-and the PRINCE2 certification puts you on the map as a validated professional. If you're ready to take on your next challenge, the PRINCE2 Study Guide, Second Edition, is your ultimate companion for complete preparation.



Contents

Introduction xxv

Assessment Test l

Chapter 1: Overview of PRINCE2 1

Project Work 3

What Is a Project? 3

What Is Business as Usual? 5

What Is Project Management? 5

Measuring the Performance of a Project 7

Introducing PRINCE2 9

The Structure of PRINCE2 9

Other Parts of PRINCE2 12

What PRINCE2 Does Not Cover 16

Benefits of Using PRINCE2 16

PRINCE2 Principles 17

Continued Business Justification 17

Learn from Experience 18

Defined Roles and Responsibilities 18

Manage by Stages 19

Manage by Exception 19

Focus on Products 21

Tailor to Suit the Project 21

Tailoring PRINCE2 to Different Project Types and Environments 22

What Is Tailoring? 22

What Cannot Be Tailored? 22

Why Tailor PRINCE2? 23

What Can Be Tailored? 24

Simple Projects 25

Programme Environments 25

Commercial Customer and Supplier Environments 26

Agile Environments 26

An End-to-End Walk-Through of PRINCE2 28

Pre-Project Activities 30

Activities at the Beginning of the Project 33

Activities in the Middle of the Project 35

Activities at the End of the Project 38

Summary 40

Foundation Exam Essentials 41

Practitioner Exam Essentials 42

Review Questions 43

Foundation Exam Questions 43

Practitioner Exam Questions 45

Chapter 2 Starting a Project Successfully with PRINCE2 47

Beginning a PRINCE2 Project 49

The Starting Up a Project Process 50

Starting Up a Project Process Activities 52

Key Facts for Starting Up a Project 58

Tailoring the Starting Up a Project Process 59

The Directing a Project Process - Part I 60

Authorize Initiation 61

The Initiating a Project Process 62

Initiating a Project Activities 63

Key Facts for Initiating a Project 70

Tailoring the Initiating a Project Process 72

The Directing a Project Process - Part II 73

Authorize the Project 74

Authorize a Stage 74

Themes to Start a Project Successfully 74

Business Case Theme 75

Organization Theme 75

Quality Theme 76

Plans Theme 76

Risk Theme 77

Change Theme 77

Progress Theme 77

Using the PRINCE2 Principles to Start a Project

Successfully 78

Summary 78

Foundation Exam Essentials 79

Practitioner Exam Essentials 80

Review Questions 84

Foundation Exam Questions 84

Practitioner Exam Questions 86

Chapter 3 Organization Theme 89

Common Project Organizational Challenges 91

The Three Project Interests 92

The Business Interest 93

The User Interest 93

The Supplier Interest 94

Achieving Consensus Between the Project Interests 94

The Four Levels of Management 94

Corporate, Programme Management, or the Customer 95

Directing 96

Managing 97

Delivering 98

The Project Management Team 98

The Project Board 98

Change Authority 103

The Project Manager 104

Project Support 104

Team Manager 105

Other Stakeholders 106

Communication Management Approach 107

Contents 107

The Life of the Communication Management Approach 110

Other Management Products Used by the Organization Theme 110

The Project Brief's Use in the Organization Theme 110

The Project Initiation Documentation's Use in the Organization Theme 110

Organization Theme Responsibilities 111

Tailoring the Organization Theme 111

Minimum Requirements 111

Scaling the Organization Theme 112

Commercial Customer/Supplier Environment 113

Projects Within Programmes 115

Projects Within an Organizational Environment 118

Agile Environments 118

Linking the Organization Theme with the PRINCE2

Principles 121

Summary 121

Foundation Exam Essentials 122

Practitioner Exam Objectives 124

Review Questions 125

Foundation Exam Questions 125

Practitioner Exam Questions 127

Chapter 4 Business Case Theme 131

What Is the Business Case Theme? 132

Outputs, Outcomes, and Benefits 133

Business Cases Where Money Isn't the Motivation 135

Using the Business Case Theme 135

Developing the Business Case 136

Maintaining the Business Case 137

Verifying the Business Case 137

Confirming the Benefits 138

The Business Case Management Product 139

The Purpose 139

The Contents of the Business Case 140

The Benefits Management Approach 144

Business Case Responsibilities 146

Corporate, Programme Management, or the Customer 146

Executive 146

Senior User 146

Project Manager 147

Other Roles 147

Tailoring the Business Case Theme 147

Minimum Requirements 147

Tailoring the Management Products 148

Regulatory Compliance 148

Projects Within Programmes 148

Commercial Customer and/or Supplier Environments 148

Agile Environments 149

Linking the Business Case Theme with the PRINCE2

Principles 150

Summary 150

Foundation Exam Essentials 151

Practitioner Exam Essentials 152

Review Questions 154

Foundation Exam Questions 154

Practitioner Exam Questions 156

Chapter 5 Plans Theme 159

Levels of Plans 161

The Project Plan 162

The Stage Plan 163