Pearson Prince2-Foundation New Attempt

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. References: PRINCE2® 7 Foundation Handbook and official training materials.

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. References: PRINCE2® Foundation Handbook, Manage by Exception section.

One of the minimum requirements when applying the Business Case theme in PRINCE2® is to integrate the Benefits Management Approach with the project’s plans. This requirement ensures that there is a clear line of sight between the project’s outputs, outcomes, and the expected benefits. It focuses on planning for the realization of benefits from the outset, which is essential for justifying the project throughout its life cycle.References: PRINCE2® Foundation Manual

The advantages of having a clear end to a project include ensuring that no further costs are incurred by the project (1) and that project products are transferred to operations and support for ongoing use (2). The achievement of all benefits at project closure (3) is not guaranteed and typically occurs post-project, and the project brief is not re-baselined at project end (4). References: PRINCE2® Foundation Handbook, Closing a Project section.