In PRINCE2, an 'outcome' is defined as the result achieved by the project after implementing changes

through its activities. Outcomes are the new states enabled by the project's outputs, differing from

benefits in that they are not necessarily quantified as improvements until later evaluated as such.

Reference: PRINCE2® 7 Foundation documentation on project outputs, outcomes, and benefits.

PRINCE2® ensures that the specific management needs of an organization are met by incorporating

tailoring. Tailoring involves adapting the method to suit the project’s environment, size, complexity,

importance, capability, and risk. It allows organizations to apply PRINCE2® effectively across different

types of projects and organizational environments.

Reference: PRINCE2® Foundation Manual

Effective issue management in PRINCE2 should involve creating new versions of management

products whenever a change is approved. This practice ensures that all documentation reflects the

most current understanding and agreements regarding the project's scope and requirements. It helps

maintain the integrity and relevance of the project documentation throughout its lifecycle,

facilitating effective governance and control.

Reference: (PRINCE2® 7 Foundation Handbook, AXELOS)

The 'Starting up a Project' process in PRINCE2® is typically triggered when a project mandate is

available. The project mandate provides the basic information necessary to define whether there is

sufficient justification to proceed with the project's setup.

Reference: PRINCE2® Foundation Manual

The "Directing a Project" process is used by the project board to respond to an exception report. This

process involves the project board making decisions on how to proceed when project tolerances are

forecasted to be exceeded, which are typically communicated through an exception report.

Reference: = PRINCE2® 7 Foundation handbook and online resources

Qualitative analysis of a risk in PRINCE2 assesses, at a minimum, the likelihood of each risk occurring

and its potential impact on project objectives. This analysis helps in prioritizing risks based on their

severity and likelihood, which is crucial for effective risk management and decision-making about

risk responses.

Reference: (PRINCE2® 7 Foundation Handbook, AXELOS)

In PRINCE2®, the creation of a highlight report is a time-driven control, typically scheduled at regular

intervals, such as weekly or monthly during a stage. This report provides the Project Board and other

stakeholders with a summary of the stage status, and it is triggered by the passage of time, not by

specific events or exceptions within the project.

Reference: = PRINCE2® 7 Foundation Training Manual and official PRINCE2® website documentation

The purpose of the 'Initiating a Project' process is to provide the Project Board with just enough

information to decide whether to approve the initiation stage. This process involves the

development of a more detailed Business Case and Project Plan, which are crucial for the Project

Board to assess the project's viability and decide on its initiation confidently. Reference: PRINCE2®

official guide and syllabus.

Product-based planning in PRINCE2 focuses on defining and understanding the project's outputs or

products. This method helps in determining the project's approach by clarifying what products must

be delivered, thus guiding the planning of activities and resources needed to create these products.

It ensures that the project's structure and execution strategy are aligned with delivering tangible,

well-defined outcomes.

Reference: PRINCE2® 7 Foundation resources on product-based planning.

A characteristic that distinguishes a project from regular business operations is that it introduces

business change. Projects are temporary endeavors undertaken to create a unique product, service,

or result, and they often drive significant changes within an organization, unlike regular operations,

which are repetitive and ongoing. Reference: PRINCE2 Foundation manual, PRINCE2 official

resources