PRINCE2 glossary

This InfographicPRINCE2 glossaryIntroduction to SMART goals forms a comprehensive set of definitions for SMART goalsPRINCE2 are a structured approach to goal setting, ensuring clarity and focus. They are an effective method for setting objectives by making them . Please note that the PRINCE2 definitions are based upon SpecificPRINCE2 7, ^thMeasurable edition, .Achievable

A, RelevantB, and Time-boundC. This framework aids individuals and organisations in better planning and achieving their aims, ultimately leading to improved productivity and success. The concept of DSMART goals originated in November 1981, when George T. Doran published it in Management Review journal as a method for clearer and more achievable goal setting. Over time, it has become a widely accepted practice across various fields, from personal development to corporate management.EAdopting SMART goals can provide psychological benefits such as reduced stress and enhanced motivation. Breaking down objectives into manageable parts allows individuals to focus on priorities, leading to more effective approaches to personal and professional challenges. To learn more about how to set SMART goals, subscribe to our FBusiness Analysis Learning Library (BALL) ™G where you can learn 26 different business analysis techniques including SMART. Understanding the SMART criteriaHSpecific Being Ispecific  in goal setting provides a clear direction and purpose. A well-defined goal leaves little room for ambiguity, enabling focused efforts. For instance, instead of saying, “Improve health,” specify, “Exercise for 30 minutes, five times a week.” Clear goals eliminate confusion and provide a roadmap for action.LMeasurable Having Mmeasurable  criteria allows for tracking progress effectively. It is crucial to determine how success will be quantified, whether through numbers, frequencies, or benchmarks.OProgress charts, spreadsheets and digital applications support measuring progress. For example, “Increase sales by 10% in three months” is measurable, while “Improve sales” is not. AchievablePGoals should be  achievableQ to maintain motivation and drive. It’s important to set objectives that are within reach yet still challenging. Balancing ambition with practicality ensures that goals are inspiring but not discouraging. For instance, setting an objective to “Run a marathon in six months” is more realistic than aiming for one in a month with no prior training.RRelevant Ensuring that goals are Srelevant aligns them with broader objectives. This ensures that efforts contribute meaningfully to overall ambitions.TPrioritisation is key, as it focuses resources on what truly matters. A relevant goal might be “Learn advanced Excel for work efficiency,” aligning personal development with career progression. Time-boundUSetting  time-boundW goals introduces urgency and accountability. Deadlines motivate action and prevent procrastination.

accept (risk response)Effective time management involves setting realistic time frames to achieve goals. For example, “Complete the project by the end of the month” is more effective than “Complete the project soon.”

This risk response signifies an organisation’s willingness to take the risk, fully comprehending that if the risk materialises, it will impact the objectives completely.Understanding and applying the SMART criteria can reduce stress and enhance motivation. By breaking down goals into specific, manageable components, individuals can approach challenges with clarity and confidence.

acceptanceEnhance your skills with our expert-led courses

This is the formal recognition that the project has successfully met the agreed acceptance criteria, thereby satisfying the stakeholder requirements.

acceptance criteria

These are a set of prioritised criteria that the final product of the project must fulfil before the customer agrees to accept it. They are measurable definitions of the attributes that make the product set acceptable to key stakeholders.

accountableSelf-paced

A single individual who is ultimately answerable for the activity or decision. Accountability (unlike responsibility) cannot be delegated. This contrasts with responsibility which is the individual(s) who perform the activity.BCS Foundation Certificate in Business Analysis self-paced online

activity

An activity is a task or series of tasks that unfolds over a period, yields identifiable results, and is managed. Each PRINCE2 process contains a number of activities which comprise of actions designed to achieve a particular result.£499 +vat

agile and agile methods

These are a wide-ranging set of behaviours, frameworks, principles, and techniques that, when combined, enable teams and individuals to work in a manner characteristic of Agile: collaborative, prioritised, iterative, incremental and timeboxed. There are several specific Agile methods, such as Scrum and Kanban. PRINCE2 is entirely compatible with Agile working.

approval

This is the formal affirmation that a product is complete and meets its requirements (with any concessions taken into account), as outlined in its product description.Self-paced

approver (in quality context)BCS International Diploma in Business Analysis self-paced online

SMARTbaseline management products

 criteria. Assess each goal’s specificity, measurability, achievability, relevance, and time frame. This iterative process helps to ensure each goal is clear and feasible, ready for implementation.benefit

The measurable enhancement arising from an outcome, viewed as an advantage by the investing organization, and contributes towards one or more business objectives.Finalisation

benefits management approach: With refined goals, proceed to finalise them. Prioritise based on relevance and urgency.

A strategy that outlines the management actions and benefits reviews to ensure the project outcomes are achieved, and that the project’s benefits are realised. See Write a concise statement for each goal, encapsulating its essence and intended outcome. This step formalises your commitment and sets the stage for action.benefits management approachTools and templates.: Utilise available tools and templates to streamline goal setting. Templates can provide structured prompts for each SMART criteria, ensuring thorough consideration. Digital tools often offer tracking features to monitor progress, enhancing accountability.

benefits toleranceCommon mistakes and how to avoid them

The allowed variation in expected benefits before the deviation needs to be escalated to higher management. This is documented in the business case.Vagueness

business: Vague goals lack direction and clarity. Avoid ambiguity by being specific about what you aim to achieve. Instead of “Improve communication skills,” specify “Complete a communication skills workshop by the end of the quarter.”

The organization providing the project mandate and structure within which the project is governed.Over-ambition

business case: While ambition is valuable, setting unattainable goals can lead to frustration. Balance ambition with realism. Break larger goals into smaller, manageable parts to maintain motivation and progress.

The rationale for a business activity (project), typically including timescales, costs, benefits, and risks, against which ongoing viability is assessed. See Neglecting time framesbusiness case: Without deadlines, goals can languish. Time frames introduce urgency and structure. Incorporate clear deadlines for each goal. For instance, replace “Start a blog” with “Launch a blog by 1st June.”.Relevance overlooked

business layer: Ensure goals align with your broader objectives. Irrelevant goals can dilute focus and resources. Regularly review goals for alignment with key priorities, adjusting as necessary to maintain coherence with overall ambitions.

The governance layer outside the project that sets the overall objectives and tolerance levels for the project and holds the project board accountable for achieving them.Adopting SMART goals can significantly reduce stress and enhance motivation by providing a structured, clear approach to achieving objectives. By following these guidelines and avoiding common pitfalls, you can set goals that are both inspiring and attainable.

business objectiveBenefits of using SMART goals

The measurable outcomes demonstrating progress towards the organization’s strategy and to which the project should contribute.Enhanced focus and clarity

business opportunitySMART goals

An issue representing previously unanticipated positive consequences for the project or user organization. provide a well-defined path, ensuring clarity and focus. By breaking down ambitions into specific, manageable components, individuals and organisations can concentrate efforts effectively. This approach minimises distractions and aligns actions with objectives, fostering a targeted and efficient pursuit of goals.

Back to topImproved motivation and accountability

capabilitySMART goals play a crucial role in boosting 

The completed set of project outputs required to deliver an outcome.motivation

change and enhancing accountability. The structured nature of SMART criteria ensures that goals are not only clear but also achievable.

A change is a modification to any of the approved management products that forms the project baseline.This clarity in purpose and progress tracking energises individuals, maintaining enthusiasm and commitment. Furthermore, having measurable outcomes fosters a sense of responsibility, as progress can be visibly monitored and assessed.

change authorityBetter resource management

An individual or team entrusted by the project board to evaluate change requests or off-specifications. The change authority may be allocated a specific change budget and has the authority to approve changes that fall within that budget.Efficient use of resources is another significant advantage of setting SMART goals. With clear objectives and timelines, resources such as time, effort, and finances can be allocated more effectively.

change budgetThis alignment reduces wastage and optimises productivity. By prioritising relevant goals, individuals and organisations ensure that their resources are directed towards what truly matters, achieving the best possible outcomes.

The funds allocated to the change authority, which can be used to implement authorised requests for changes.Overall, adopting SMART goals can lead to reduced stress and enhanced performance by providing a structured and clear framework for achieving objectives. This method encourages a more strategic and focused approach, ultimately leading to greater success in both personal and professional endeavours.

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dis-benefit

A measurable degradation arising from an outcome deemed negative by one or more stakeholders, thereby diminishing one or more organizational objectives.

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early warning indicators

These are used to track critical aspects of the project so that if certain predefined levels are reached, corrective action is triggered. They are selected for their relevance to the project objectives.

embedding (PRINCE2)

The process of integrating something as a core part of a larger entity. An organization needs to do embedding to incorporate PRINCE2 as its company-wide project management method and foster its widespread adoption. See embedding PRINCE2 .

end project report

This is a report presented by the project manager to the project board, confirming the delivery of all products. It updates the business case and evaluates the performance of the project against the original Project Initiation Documentation (PID). See end project report .

end stage assessment

The project board and the project manager review the end stage report to decide on approving the next stage plan. Depending on the project’s size and criticality, the review can be either formal or informal. The decision to proceed should be officially documented.

end stage reportExploring the impact of the McKinsey 7S model on organisational performance

This is a report delivered by the project manager to the project board at the conclusion of each management stage of the project. It informs about the project’s performance during the management stage and the project status at the stage end. See end stage reportSimon Buehring.14 Sep 2026

enhance (risk response)

This is a risk response to an opportunity where proactive measures are undertaken to increase both the likelihood of the event happening and the impact of the event if it transpires.Discover how the McKinsey 7S Model can enhance your organisation's performance. Scroll down to understand this comprehensive framework and its application in your business.

event-driven control

This is a control activated when a specific event takes place. This could be, for instance, the conclusion of a management stage, the completion of the PID, or the generation of an exception report. It can also include organizational events that may influence the project, such as the end of the fiscal year.

exception

This situation arises when it is projected that there will be a deviation beyond the tolerance levels agreed upon between the project manager and the project board (or between the project board and corporate, programme management or the customer).

exception assessment

This is a review by the project board to approve or reject an exception plan.

exception plan

This is a plan that typically follows an exception report. For a stage plan exception, it covers the timeframe from the present to the end of the current management stage. If the exception is at the project level, it would replace the project plan. See Uncovering the benefits of PESTLE analysis for informed decision-makingplan .Simon Buehring

exception report14 Sep 2026

This report details the exception situation, its impact, available options, recommendation, and the impact of the recommendation. It is prepared by the project manager for the project board. See exception reportDiscover the impact of PESTLE analysis on strategic planning. Scroll down to see how this tool can guide your business decisions and enhance your competitive edge..

external dependency

This arises when a project’s progress or success is contingent upon factors outside the project’s immediate control, often involving external organizations, stakeholders, or conditions. Managing external dependencies often requires collaboration and coordination beyond the project team’s boundaries.

external products

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management

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performance target15 Sep 2026

A project’s goals for time, cost, quality, scope, benefits, risk, and sustainability.

planDiscover what a business analyst does and how they are pivotal in achieving company goals. Learn more about the role's importance here.

A detailed proposition for doing or achieving something that outlines the what, when, how, and by whom it will be accomplished. In PRINCE2, the types of plan are: project plan, stage plan, team plan, and exception plan. See plan .

planning horizon

The timeframe for which accurate planning is possible.

portfolio

The totality of an organization’s investment (or a segment thereof) in the changes required to achieve its strategic objectives.

practice

An aspect of project management that requires consistent attention and specific treatment for the PRINCE2 processes to be effective. See practices .

premature closure

The PRINCE2 activity to terminate a project before its planned closure. The project manager must ensure that ongoing work is not simply abandoned, but that the project salvages any value created to date and checks that any gaps left by the project’s cancellation are raised to corporate, programme management, or the customer.

prerequisites (plan)

Any fundamental aspects that must be in place, and remain in place, for a plan to succeed.

PRINCE2 principles

The guiding obligations that determine whether the project is genuinely being managed using PRINCE2 and ensure effective application and tailoring of PRINCE2 to any project. See principles .

PRINCE2 project

A project that applies the PRINCE2 principles.

probability

The evaluated chance of a specific threat or opportunity occurring, including a consideration of the frequency with which this may arise.

problem

An issue with a negative and immediate impact.

procedure

A series of actions for a practice established specifically for the project (for example, a risk management procedure).

processGive us a call

A structured set of activities designed to achieve a specific objective. A process takes one or more defined inputs and transforms them into defined outputs. See processes .+44 (0)207 148 5985

producer (in a quality context)

The person or group responsible for developing a product.Or chat with us using the link at the bottom of the screen.

productContact us with questions about the courses on this page, or about which project management certification or training is best for you.

This is the individual vested with the overall responsibility to ensure that a project achieves its objectives and delivers the projected benefits. They should ensure that the project maintains its business focus, that it has clear authority, and that the work, including risks, is actively managed. The executive chairs the project board, represents the customer, and is responsible for the business case. See project executive .

project initiation documentation (PID)

A logical collection of documents that compile key information required to start a project on solid grounds and communicates this information to all involved parties. See project initiation documentationSearch.

project initiation notification

Advice from the project board to inform all stakeholders and host sites about project initiation and to request logistical support sufficient for the initiation stage.

project lifecycle

The span of time from a project’s initiation to the acceptance of the project product.

project management

The act of planning, delegating, monitoring, and controlling all aspects of a project, along with motivating those involved, to achieve the project’s objectives within the set performance targets for time, cost, quality, scope, benefits, and risk. See project management .

project management teamRequest a quote

The comprehensive management structure of a project, including the project board, project manager, team manager, project assurance, and project support roles. See project management team .

project management team structure

An organizational chart displaying the individuals assigned to the project management team roles, showing their delegation and reporting relationships. See project management roles.

project manager

The individual tasked with the authority and responsibility to manage the project on a day-to-day basis, delivering the required products within the agreed-upon constraints with the project board. See project managerManage Consent.

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An external product produced by the authority commissioning the project, which triggers the start-up of a project.

A temporary office established to support the delivery of a specific change initiative being delivered as a project. If used, the project office takes on the responsibility of the project support role. See project management office.

project plan

A high-level plan that outlines the major products of the project, their delivery timeline, and costs. An initial project plan is part of the PID, and it’s revised as actual progress information becomes available. See

This refers to the temporal aspect of risk, i.e., when the risk may occur. The severity of a risk’s impact may vary depending on when the risk transpires.

project team

This encompasses all people required to allocate their time to the project.The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.

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qualityPreferences

The extent to which a product, service, process, person, organization, system, or resource meets the required standards or specifications. See quality practice .

quality assurancePreferences

A process conducted by an independent body (separate from the project team) to verify that a product or service will meet the set requirements or standards when tested under quality control.

quality control

A process that involves monitoring project results to ensure they comply with the set standards and identifying methods to address any unsatisfactory performance.

quality management approach

A systematic approach that involves identifying and assessing risks, planning and implementing risk responses, and communicating risk management activities to stakeholders.

risk management approach

The activities conducted by the project executive and the project manager before the project begins, aimed at producing the outline business case, project brief, and initiation stage plan.

supplier

The individual, group, or organization responsible for the delivery of the project’s specialist products.

sustainability management approachThe technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.

Defines the actions, reviews, and controls to be established to ensure that the project’s sustainability performance targets are achieved. See Manage optionssustainability management approachManage services.Manage {vendor_count} vendors

sustainability toleranceRead more about these purposes

The permissible deviation in the sustainability performance targets that is allowed before it must be escalated to the next level of management. Sustainability tolerance is documented in the business case. See tolerance.

tailoringDeny

The process of adapting a method or process to suit the situation in which it is being used. See tailoringView preferences.

team managerSave preferences

An individual responsible for the creation of products as assigned by the project manager. This role reports to the project manager. If a team manager is not assigned, the project manager assumes these responsibilities. See team managerView preferences.{title}

team plan{title}

An optional plan used for team management control during the execution of work packages. See {title}planManage consent.Manage consent

threat

An uncertain event that could negatively impact the objectives or benefits.

timebox

A finite time period dedicated to achieving a specific goal or objective. The deadline is fixed, with work within it being prioritized. Lower-level timeboxes are days or weeks long (like sprints), while higher-level ones contain multiple lower-level timeboxes (like stages).

time-driven control

A type of management control that is scheduled regularly, allowing higher authority to monitor progress.

time tolerance

The permissible deviation in a plan’s time before it needs to be escalated to the next level of management. See tolerance.

tolerance

The permissible deviation above and below a plan’s target for time and cost before it needs to be escalated to the next level of management. There may also be tolerance levels for quality, scope, benefits, and risk.

transfer (risk response)

A risk response that involves a third party assuming some of the financial impact of a threat, such as through insurance or specific contractual clauses.

transformation

A distinct change to the way an organization conducts all or part of its business.

trigger

An event or decision that initiates a PRINCE2 process.

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user

The individual or group who will use one or more of the project’s products.

user acceptance

Specific approval given by the individual or group who will use the product after it is handed over to the operational environment.

user story

A technique for writing a requirement in the form of who, what, and why.

user’s quality expectations

A statement about the quality expected from the project product, captured in the project product description.

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work breakdown structure

A hierarchy of all work done during a project that forms a link between the product breakdown structure and the work packages.

work package

The work assigned to a team manager encompassing the delivery of one or more products.

work package description

A set of information necessary for the creation of one or more products. It includes a description of the work, product descriptions, any production constraints, and confirmation of agreement between the project manager and the person or team manager implementing the work package. See work package description.

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