Plain-English definitions of the PRINCE2 terms for Foundation study. Simplified for learning; PeopleCert’s materials are authoritative.
| Term | Definition |
|---|---|
| PRINCE2 | A structured, process-based project management method. |
| Principle | A guiding obligation every PRINCE2 project follows. |
| Theme / practice | An aspect managed continuously (e.g., risk, quality). |
| Process | A set of activities for a part of the project lifecycle. |
| Business case | The justification for the project; must remain valid. |
| Project board | The group that directs the project. |
| Project manager | The person who manages the project day to day. |
| Stage | A management section of the project. |
| Tolerance | The permitted deviation before escalation is needed. |
| Manage by exception | Escalate only when tolerances are forecast to be exceeded. |
| Product | A deliverable or output of the project. |
| Work package | The work assigned to a team to produce products. |
| PID | Project Initiation Documentation — the project’s baseline. |
| Quality | Meeting the agreed requirements of a product. |
| Risk | An uncertain event that could affect objectives. |
| Issue | A relevant event that has happened and needs handling. |
| Tailoring | Adapting PRINCE2 to the project’s context. |
| Highlight report | Regular progress report to the project board. |
| Exception report | A report produced when a tolerance is forecast to be breached. |
| Lessons log | A record of lessons to learn from and apply. |