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Exam Tips, Terminology & Formulas (PRINCE2 7 Foundation) Flashcards
PRINCE2 7 Foundation Flashcards
| Front | Back |
| Answer Style Tip | Use concise PRINCE2 language and refer to roles products or controls when relevant |
| Benefit Review Purpose | Confirm that projected benefits are realised post project |
| Change Control Process Steps | Identify Evaluate Authorise Implement Close |
| Common Exam Pitfall | Avoid repeating the question back without applying PRINCE2 concepts |
| Config Management Purpose | Ensure integrity traceability and controlled changes of products |
| Definition Baseline | Approved version of a product plan or document used as reference |
| Definition Change Authority | Person or group authorized to approve changes within defined tolerance |
| Definition Configuration Item | Any component of a product that is under configuration control |
| Definition Exception | When tolerances are forecast to be exceeded requiring escalation |
| Definition Issue | A formal request or concern that needs resolution during the project |
| Definition Product Based Planning | Planning approach that focuses on defining and creating products first |
| Definition Project Assurance | Independent review that the project is being conducted correctly |
| Definition Tolerance | Permissible deviation from a plan before escalation to a higher authority |
| Document Purpose PID | Project Initiation Document defines the approach scope and controls of the project |
| Elimination Tip for MCQs | Remove obviously wrong options then consider best PRINCE2 aligned choice |
| Issue Types | Request for Change Off Specification and Concern |
| Keyword Tip in Questions | Look for words like must should may and expect to judge strength of answer |
| Management by Exception Mechanism | Set tolerances so only significant deviations are escalated |
| Management Stage Purpose | Provide fixed control points to review progress and authorise next stage |
| Minimum Passing Score Tip | Know your exam pass mark and calculate required percentage per question |
| Mnemonic for 7 Principles | CBJ LEARN ROLES STAGES EXCEPTION PRODUCTS TAILOR |
| Plan Levels | Project Stage and Team plans are the three main levels |
| PRINCE2 Principle Continued Business Justification | Project must have ongoing justification for its existence |
| PRINCE2 Principle Defined Roles and Responsibilities | Clear governance and responsibilities for project stakeholders |
| PRINCE2 Principle Focus on Products | Define and agree project outputs before planning activities |
| PRINCE2 Principle Learn from Experience | Use lessons learned and record new lessons continually |
| PRINCE2 Principle Manage by Exception | Use tolerances and delegations to limit reporting and control |
| PRINCE2 Principle Manage by Stages | Plan and control the project in manageable stages |
| PRINCE2 Principle Tailor to Suit Project | Adapt PRINCE2 to fit the size complexity and risk of the project |
| Product Description Includes | Purpose composition derivation quality criteria and acceptance method |
| Quality Review Technique | Structured review against agreed quality criteria using defined roles |
| Quality Tolerance Definition | Acceptable deviation from quality criteria before corrective action |
| Risk Exposure Calculation Use Case | Helps prioritise which risks need treatment based on impact and probability |
| Risk Exposure Formula | Impact x Probability |
| Risk Management Steps | Identify Assess Plan Implement Review |
| Risk Probability Impact Matrix | Tool to prioritise risks by combining likelihood and impact |
| Time Management Tip | Allocate time per question based on marks and leave time to review answers |
| Tolerance Types | List time cost quality scope benefits and risk |
Concise review of exam strategy, commonly tested terminology and definitions, important models/formulas (e.g., tolerance, risk exposure), and quick recall mnemonics.