PRINCE2 – Foundation Exam Exam

Which of the following statements is TRUE about PRINCE2?

1. PRINCE2 is team-led with no structure

2. PRINCE2 is based on a customer/supplier environment

3. PRINCE2 only applies to IT projects

4. PRINCE2 does not require stakeholder involvement

The correct answer is: PRINCE2 is based on a customer/supplier environment

The statement that PRINCE2 is based on a customer/supplier environment is true. PRINCE2 (PRojects IN Controlled Environments) emphasizes the importance of stakeholders, including both customers and suppliers, in the project management process. This framework is designed to deliver a tailored and structured approach to project management that meets the specific needs of a project while aligning the interests of those involved. In a customer/supplier environment, there is a clear distinction between the party funding the project (the customer) and the party delivering the project (the supplier). This relationship is foundational in PRINCE2, as it ensures that both parties are aligned in terms of expectations, deliverables, and outcomes. The effective management of this relationship is critical to the success of the project. Conversely, the other options present misconceptions about PRINCE2. It is not an unstructured methodology; it is highly structured with defined roles and processes. PRINCE2 is applicable not just to IT projects, but to any project across various industries. Finally, stakeholder involvement is essential in PRINCE2, as engaging stakeholders is vital for project success, ensuring their needs are understood and met throughout the project lifecycle.