Project

Project Tolerances
• Tolerances are the boundaries you set for your behavior on the
project. They define the decisions you can take as a project
manager, without having to defer to the sponsor.
• Tolerances are useful because they mean you don't have to
continually go back to your project sponsor to ask for
permission to complete the project a day late or a few pounds
over budget.
• Defining your tolerances, and then managing to them, gives you
and your sponsor the ability to set criteria around what you can
and can't do on the project.
 Tailoring
• Usually Project managers apply a project
management methodology to their work. A
methodology is a system of
practices,techniques,procedures and rules
used by those who work in discipline.
• Project management methodologies may be
• Developed by experts within the
organization.
• Purchased from vendors
• Obtained from Professional associations or
acquired from government agencies
Prince 2 Philosophy
• PRINCE2 (Projects in Controlled
Environments) is a structured project
management method[1] and practitioner
certification programme.
• PRINCE2 emphasizes dividing projects into
manageable and controllable stages.
• PRINCE2 is based on seven principles and these cannot be
tailored.
• The PRINCE2 principles can be described as a mindset that
keeps the project aligned with the PRINCE2 methodology. If
a project does not adhere to these principles, it is not being
managed using PRINCE2.
1.Continued Business Justification: The business case is the
most important document, and is updated at every stage of
the project to ensure that the project is still viable. Early
termination can occur if this ceases to be the case.
 2.Learn From Experience:
• each project maintains a lessons log and projects
should continually refer to their own and to
previous and concurrent projects' lesson logs to
avoid reinventing wheels. Unless lessons provoke
change, they are only lessons identified (not learned
Lesson Log
3.Defined Roles and Responsibilities: Roles are separated from individuals,
who may take on multiple roles or share a role. Roles in PRINCE2 are
structured in four levels (corporate or programme management, project
board, project manager level and team level). Project Management Team
contains the last three, where all primary stakeholders (business, user,
supplier) need to be presented.

4.Manage by Stages: the project is planned and controlled on a stage by

stage basis. Moving between stages includes updating the business case,
risks, overall plan, and detailed next-stage plan in the light of new evidence.
 5Manage by Exception:
A PRINCE2 project has defined tolerances (6 aspects above) for
each project objective, to establish limits of delegated authority.
If a management level forecasts that these tolerances are
exceeded (e.g. time of a management stage will be longer than
the estimated time in the current management stage). it is
escalated to the next management level for a decision how to
proceed.
6.Focus on Products: A PRINCE2 project focuses on the
definition and delivery of the products, in particular their quality
requirements.
7.Tailor to Suit Project Environment:
• PRINCE2 is tailored to suit the project
environment, size, complexity,
importance, time capability and risk.
Tailoring is the first activity in the
process Initiating A Project and reviewed
for each stage.
• Seven Processes
• 1. Starting Up A Project, in which the project team is appointed
including an executive and a project manager, and a project brief is
produced
2. Initiating A Project, in which the business case refined and Project
Initiation Documentation assembled
3. Directing A Project, which dictates the ways in which the Project
Board oversees the project
• 4. Controlling A Stage, which dictates how each
individual stage should be controlled, including the way
in which work packages are authorized and distributed
•
5. Managing Product Delivery, which has the purpose of
controlling the link between the Project Manager and
the Team Manager(s) by placing formal requirements on
accepting, executing and delivering project work.[10]
.
• Managing Stage Boundaries

• This process provides the Project Board with key decision points on whether to continue with the project or not.
• The objectives of the process are to:
• Assure the Project Board that all deliverables planned in the current Stage Plan have been completed as defined
• Provide the information needed for the Project Board to assess the continuing viability of the project
• Provide the Project Board with information needed to approve the current stage's completion and authorize the start of the next stage, together with its delegated tolerance level
• Record any measurements or lessons which can help later stages of this project and/or other projects.
7. Closing A Project, which covers the formal decommissioning
of the project, follow-on actions and evaluation of the benefits
 Project Management Business
Documents
• The project manager needs to ensure that the
project management approach captures the
intent of business documents.
• These are two documents which are
interdependent and iteratively developed and
maintained throughout the life cycle of the
project.
 Project Business Case
A documented economic feasibility study used to
establish the validity of the benefits of a selected
component lacking sufficient definition and that is
used as a basis for the authorization of further project
management activities
The project sponsor is generally accountable for the
development and maintenance of the project business
case document.
Project Manager is responsible for providing
recommendations and oversight to keep the project
case, project management plan, project plan success
measures in alignment with one another and with the
goals and objectives of the organization.
Project Benefits Management Plan
• The document explanation defining the
processes for creating and maximizing and
sustaining the benefits provided by a project
THANK YOU