What are the six types of tolerances in the PRINCE2 methodology?
Until September 2023, PRINCE2 recommended 6 tolerances for projects. These were:
- Time/schedule tolerance - the range of time that the project or stage must be delivered within;
- Cost/budget tolerance - the range of cost that the project or stage must be delivered within;
- Scope tolerance - the acceptable range of scope that must be delivered;
- Risk tolerance - the amount of risk that can be tolerated on a project;
- Quality tolerance - the range of quality that is acceptable on a project;
- Benefits tolerance - an acceptable range of benefits that will make the project worthwhile.
However, with the launch of the most recent (7th edition) of PRINCE2 in September 2023, a 7th performance target for sustainability was introduced.
