Evaluate Project is a critical activity within the Closing a Project process in PRINCE2 7. This activity ensures that the project's performance is thoroughly assessed before formal closure, providing valuable insights for both the current project and future organizational initiatives.
The primary …Evaluate Project is a critical activity within the Closing a Project process in PRINCE2 7. This activity ensures that the project's performance is thoroughly assessed before formal closure, providing valuable insights for both the current project and future organizational initiatives.
The primary purpose of evaluating the project is to measure how well the project performed against its original plans, baselines, and approved changes. This involves reviewing the Project Initiation Documentation to compare actual outcomes with planned objectives, timelines, costs, quality targets, and benefits expectations.
During this evaluation, the Project Manager compiles information from various sources including stage-level performance data, quality management records, risk and issue logs, and lessons learned throughout the project lifecycle. This comprehensive review helps identify what went well, what could have been improved, and any factors that contributed to success or challenges.
The evaluation feeds into the End Project Report, which documents the project's overall performance and provides a summary for the Project Board. This report includes an assessment of whether project objectives were achieved, how benefits realization is progressing, and recommendations for any follow-on actions required.
Key aspects examined during project evaluation include schedule performance, budget adherence, scope delivery, quality achievement, and stakeholder satisfaction. The evaluation also considers how effectively project controls and governance mechanisms operated throughout the project.
Lessons identified during this evaluation are captured and documented in the Lessons Report, ensuring organizational learning is preserved. These lessons become valuable assets for future projects, helping the organization continuously improve its project management practices.
The evaluation must be objective and honest, acknowledging both successes and areas requiring improvement. This transparency enables the Project Board to make informed decisions about project closure and provides accountability to stakeholders regarding the investment made in the project.
Evaluate Project - PRINCE2 Practitioner V7 Guide
Why is Evaluate Project Important?
Evaluate Project is a critical activity within the Closing a Project process that ensures valuable lessons are captured and the project's performance is objectively assessed. This evaluation provides essential insights for future projects and allows the organization to understand what worked well and what could be improved. The assessment also confirms whether the project delivered its intended benefits and achieved its objectives, providing accountability to stakeholders and sponsors.
What is Evaluate Project?
Evaluate Project is the activity where the Project Manager reviews and documents the overall project performance. This includes assessing how well the project adhered to its baselines, examining the effectiveness of the project management approach, and identifying lessons that can benefit future initiatives. The evaluation produces the End Project Report and contributes to the Lessons Report.
How Does Evaluate Project Work?
The evaluation process involves several key steps:
1. Review Project Performance: Compare actual results against the original plans, including time, cost, quality, scope, benefits, and risk performance.
2. Assess the Management Approach: Evaluate how effective the project controls, processes, and strategies were throughout the project lifecycle.
3. Capture Lessons: Document lessons learned from both successes and challenges encountered during the project.
4. Prepare the End Project Report: Compile a comprehensive report summarizing project achievements, performance against tolerances, and any outstanding issues or risks.
5. Update the Lessons Report: Finalize lessons that should be passed to corporate or programme management for organizational learning.
Key Outputs: - End Project Report - Lessons Report (updated/finalized)
Exam Tips: Answering Questions on Evaluate Project
Tip 1: Remember that the End Project Report is produced during this activity, not during other closing activities. Questions may test whether you know which documents belong to which activity.
Tip 2: Understand the difference between the End Project Report and the End Stage Report. The End Project Report covers the entire project, while End Stage Reports cover individual stages.
Tip 3: When scenario questions ask about capturing lessons, ensure your answer references updating the Lessons Report and feeding information back to corporate or programme management.
Tip 4: Look for questions that test your knowledge of what performance aspects are evaluated: time, cost, quality, scope, benefits, and risk management effectiveness.
Tip 5: Pay attention to who is responsible for evaluation activities. The Project Manager leads the evaluation process, but the Project Board reviews and approves the findings.
Tip 6: In scenario-based questions, identify whether the situation describes appropriate evaluation practices or highlights gaps that need addressing.
Tip 7: Remember that benefits review may occur after project closure. The evaluation should note which benefits have been realized and which require post-project review.
Tip 8: When answering questions about lessons, focus on organizational learning and continuous improvement rather than blame or criticism of team members.