This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- That PRINCE2 tolerances apply to six specific aspects: Cost, Time, Quality, Scope, Benefits, and Risk.

- The hierarchy of tolerance setting, from Corporate to the Project Board, the Project Board to the Project Manager, and the Project Manager to the Team Manager.

- The critical concept that an exception is triggered by a *forecasted* breach of tolerance, not an actual one, which is central to the 'Manage by Exception' principle.

- How to spot common exam traps, such as overlooking non-financial tolerances like scope and quality or confusing stage-level and project-level authority.

- The mnemonic "Can The Queen See Big Rabbits?" to quickly recall the six tolerance aspects during your exam.

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep