vault backup: 2023-09-15 15:26:37

Notes/Literature/PRINCE2.md

@@ -62,12 +62,15 @@ Increasing the number of stages increases control over the project at the cost o
 Manage by exception is to allow a layer of management to have some control over another layer while letting them room to work. The lower layer works as it can and only informs the upper managing layer when a big issue (i.e. an exception) is outside of their ownership. An exception is a big issue that takes a level out of their agreed tolerance.
 Therefore, a PRINCE2 project has defined tolerances for each project objective to establish limits of delegated authority, as defined by [[Defined roles and responsibilities|the second principle]].
 There are 6 tolerances that can be set:
-- Time - a project runs out of time
-- Cost - a project runs out of funds
-- Quality - a project needs to redefine its quality standard
-- Scope - deciding scope of a project
-- Benefits - 
-- Risks - 
+- Time - time it takes for an exception
+- Cost - cost it takes for an exception
+- Quality - redefining the quality to address the exception
+- Scope - redefining the scope to take into account the exception
+- Benefits - benefits for the stakeholders in ways to deal with the exception
+- Risks - risks to which a value can be assigned to deal with the exception
+This is meant to provide the above management layer a system to control the lower management layer.
+## [[Focus on products]]
+
 
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 # References