The appropriate use of PRINCE2 on any given project, ensuring that there is the correct amount of planning, control, governance and use of the processes and themes (whereas the adoption of PRINCE2 across an organization is known as ‘embedding’).
An optional level of plan used as the basis for team management control when executing Work Packages.
A method of grouping work together by the set of techniques used, or the products created. This results in stages covering elements such as design, build and implementation. Such stages are technical stages and are a separate concept from management stages.
An aspect of project management that needs to be continually addressed, and that requires specific treatment for the PRINCE2 processes to be effective.
The permissible deviation in a plan’s time that is allowed before the deviation needs to be escalated to the next level of management. Time tolerance is documented in the respective plan. See also ‘tolerance’.
A management control that is periodic in nature, to enable the next higher authority to monitor progress – e.g. a control that takes place every two weeks. PRINCE2 offers two key time-driven progress reports: Checkpoint Report and Highlight Report.
"The permissible deviation above and below a plan’s target for time and cost without escalating the deviation to the next level of management. There may also be tolerance levels for quality, scope, benefit and risk.
Tolerance is applied at project, stage and team levels."
Read more on project tolerances
A programme management term describing a group of projects structured around distinct step changes in capability and benefit delivery.
transfer (risk response)
A response to a threat where a third party takes on responsibility for some of the financial impact of the threat (for example, through insurance or by means of appropriate clauses in a contract).
Read more on using insurance as a response to risk
An event or decision that triggers a PRINCE2 process.