PRINCE2 7 Terminology checklist – part 3
corrective action
A set of actions to resolve a threat to a plan’s tolerances or a defect in a product.
cost tolerance
The permissible deviation in a plan’s cost that is allowed before it needs to be escalated to the next level of management. See also tolerance.
Culture
The set of shared attitudes, values, goals, and ways of working that characterize a group of people.
Customer
The person or group from the business who commissioned the work and will benefit from the end results. The term ‘customer’ is only used where there is a commercial relationship between the business and the supplier.
daily log
A log used to record problems/concerns that can be handled by the project manager informally.
Dashboard
A way of representing vast amounts of decision-support data that gives a current summary, usually in graphic, easy-to-read form, of key information relating to progress and performance.
data analytics
The means of using and analysing data to support effective decision-making or to bring efficiency through the automation of tasks.
Deliverable
See output.
delivery method
The way in which the work of the project is to be delivered. The project may rely on one or more delivery methods to create the required products. Typical delivery methods include iterative-incremental, linear-sequential, or hybrid.
delivery model
The organizational and commercial arrangements to be deployed to meet the project objectives given the project constraints and capabilities of the user, business, and supplier organizations. It is described in the commercial management approach and reflected in the project management team structure.
Dependency
A dependency means that one product is dependent on another. There are at least two types of dependency relevant to a project, internal and external.
DevOps
An organizational culture that aims to improve the flow of value to customers. DevOps focuses on culture, automation, Lean, measurement, and sharing (CALMS).
dis-benefit
The measurable decline resulting from an outcome perceived as negative by the investing organization and which detracts from one or more business objectives.
early warning indicators
Describe indicators to be used to track critical aspects of the project so that if certain predefined levels are reached, corrective action will be triggered. They will be selected for their relevance to the project objectives.
end project report
A report given by the project manager to the project board, confirming the handover of all products. It includes a review of the performance of the project, any subsequent recommendations, and request approval to close the project.
end stage report
A report given by the project manager to the project board at the end of each stage. This provides information about the project’s performance during the stage and the project status at the stage end.
event-driven control
A control that takes place when a specific event occurs. This could be, for example, the end of a stage, the completion of the project initiation documentation, or the creation of an exception report. It could also include organizational events that may affect the project, such as the setting of annual budgets.
Exception
A situation where it can be forecast that there will be a deviation beyond the tolerance levels agreed between the project manager and the project board (or between the project board and business layer).
exception plan
A plan that follows an exception report and explains how the project will respond to the exception within the stage.
exception report
A report from the project manager to the project board to explain where tolerances have or are forecast to be breached for the stage or project and to request direction from the project board.
external dependency
An external dependency is one between a project product and a product or activity outside the scope of the project. In these circumstances, the project team does not have complete control over the dependency.
external products
Are products developed or provided outside of the project’s control but which the project is dependent on, for example, the publication of a new standard.
follow-on action recommendations
Actions to be taken by the business following the phased handover of any products during the stage.
Forecast
A prediction made by studying historical data and past patterns.
Governing
The ongoing activity of maintaining a sound system of internal control by which the directors and officers of an organization ensure that effective management systems, including financial monitoring and control systems, have been established to protect assets, earning capacity, and the reputation of the organization.
Handover
The transfer of ownership of a set of products to the respective user(s). The set of products is known as a release. There may be more than one handover in the life of a project (phased delivery). Confirmation of the final handover takes place in the ‘closing a project’ process.
highlight report
A time-driven report from the project manager to the project board on stage progress.
initiation stage
The period from when the project board authorizes initiation to when it authorizes the project (or decides not to proceed with it). The detailed planning and establishment of the project management infrastructure is covered by the ‘initiating a project’ process.
internal dependency
An internal dependency is one between two products of a project. In these circumstances, the project team has control over the dependency.
Issue
An event relevant to the project that requires project management consideration.
issue register
A register used to capture and maintain information on all of the issues that are being managed formally. The issue register should be monitored by the project manager on a regular basis.
issue report
A report containing the description, impact assessment, and recommendations for a response to an issue. It is created only for those issues that need to be handled formally.
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