This is an A-Z glossary of terms, from the 2009 edition. PRINCE2® is a registered trade mark of AXELOS Limited. <
fallback (risk response)
A risk response
to a threat
by putting in place a fallback plan for the actions that will be taken to reduce the impact of the threat should the risk occur.
follow-on action recommendations
Recommended actions related to unfinished work, ongoing issues
and risks, and any other activities needed to take a product to the next phase of its life. These are summarized and included in the End Stage Report
(for phased handover) and End Project Report
The ongoing activity
of maintaining a sound system of internal control by which the directors and officers of an organization ensure that effective management systems, including financial monitoring and control systems, have been put in place to protect assets, earning capacity and the reputation of the organization.
Those areas of corporate governance that are specifically related to project activities. Effective governance of project management ensures that an organization’s project portfolio is aligned to the organization’s objectives, is delivered efficiently and is sustainable.
The transfer of ownership of a set of products to the respective user(s). The set of products is known as a release. There may be more than one handover in the life of a project (phased delivery). The final handover takes place in the Closing a Project process.
A time-driven report from the Project Manager
to the Project Board on stage progress.
A site where project work is being undertaken (for example, an office or construction site).
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