Category: PRINCE2

Tolerance

Tolerance The permissible deviation above and below a plan’s estimate of time and cost without escalating the deviation to the next level of management. Separate tolerance figures should be given for time and cost.There may also be tolerance levels for quality, scope, benefit and risk. Tolerance is applied at project, stage and team levels. Tolerancia La desviación…
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Work Package

The set of information relevant to the creation of one or more products. It will contain a description of the work, the Product Description(s), details of any constraints on production such as time and cost, interfaces, and confirmation of the agreement between the Project Manager and the person or Team Manager who is to implement…
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PRINCE2

PRINCE2 (an acronym for PRojects IN Controlled Environments) is a de facto process-based method for effective project management. Used extensively by the UK Government, PRINCE2 is also widely recognised and used in the private sector, both in the UK and internationally. The PRINCE2 method is in the public domain, and offers non-proprietorial best practice guidance…
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