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PRINCE2® Foundation (v7) Cheatsheet — Principles, Practices, Processes & Key Products

High-yield PRINCE2 Foundation (v7) review: the 7 principles, 7 practices, 7 processes, tolerance rules, and the management products you’re expected to recognize.

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Use this for last‑mile review. Pair it with the Syllabus for coverage and Practice to validate recall.

PRINCE2 in one sentence

PRINCE2 is a product-focused project management method that uses stages, tolerances, and management by exception to keep delivery controlled and justified.

The control model (high-yield)

Tolerances (what “exception” means)

If forecast performance is outside tolerance, it becomes an exception and must be escalated.

Tolerance type Examples
Time milestone slips, stage end date
Cost budget overrun
Scope must-have deliverables changed
Quality acceptance criteria not met
Risk risk exposure exceeds appetite
Benefits expected value no longer achievable

Fast rule: within tolerance → project management handles; outside tolerance → escalate via exception management.

The “7–7–7” overview

7 principles (the non-negotiables)

  1. Continued business justification
  2. Learn from experience
  3. Define roles, responsibilities, and relationships
  4. Manage by stages
  5. Manage by exception
  6. Focus on products
  7. Tailor to suit the project

7 practices (what you manage, continuously)

  • Business case
  • Organizing
  • Plans
  • Quality
  • Risk
  • Issues
  • Progress

7 processes (when decisions are made)

  • Starting up a Project (SU)
  • Directing a Project (DP)
  • Initiating a Project (IP)
  • Controlling a Stage (CS)
  • Managing Product Delivery (MP)
  • Managing a Stage Boundary (SB)
  • Closing a Project (CP)

Roles (who makes which decisions)

Role Primary concern Typical decisions
Project Board business, user, supplier interests authorize project/stages, accept exceptions
Project Manager day-to-day control planning, monitoring, issue management (within tolerance)
Team Manager (if used) managing team delivery accepts work packages, reports progress

Key management products (recognize the “which document?” question)

If the question is about… Likely product
why the project should exist Business Case
who needs what, and when Communication Management Approach
what’s included/excluded, acceptance Project Product Description
delivery plan + baselines Project Plan / Stage Plan
quality criteria + methods Quality Management Approach
tracking quality checks Quality Register
capturing risks + responses Risk Register
capturing issues/changes Issue Register
exceptions and escalation Exception Report
regular progress summary Highlight Report
end of stage decisions End Stage Report / Next Stage Plan

Best-answer pickers (Foundation-level)

  • If the stem says “outside tolerance” → look for exception escalation.
  • If the stem is about “what should be defined first” → roles, products, and the Business Case often come early.
  • If the stem asks “what’s missing” → pick the management product that makes the situation controllable (plan, register, report).

Ready to drill? Open PRINCE2 Foundation practice → or jump into the app: /app/pmp-exam-prep/#/topic-selection/peoplecert-prince2-foundation .

Syllabus
Practice