Last Updated on April 18, 2022 by Admin 3
PRINCE2 FD : Foundation : Part 13
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What may be funded from a risk budget?
- Corrections required due to off-specifications
- Implementation of a fallback plan
- Implementation of a fallback plan
- Preparation of the risk management approach
Explanation:
Reference: http://prince2.wiki/Risk#Risk_Budget
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Which is a minimum requirement for applying the organization theme?
- To document the project management team structure
- To define the experience required for each project role
- To include external stakeholders on the project board
- To train project team members in the use of PRINCE2
Explanation:Reference: http://prince2.wiki/Themes#Organization_Theme -
Who represents the three project interests on a project?
- Project manager
- Project support
- External project stakeholders
- Project board
Explanation:Reference: http://prince2.wiki/Organization#Three_Project_Interests -
Which PRINCE2 principle helps to address a concern that the project team may NOT have worked on a similar project?
- Defined roles and responsibilities
- Learn from experience
- Manage by exception
- Focus on products
Explanation:Reference: https://www.prince2primer.com/academy/uncategorized/ -
What must a PRINCE2 project demonstrate?
- Application of PRINCE2 principles
- Application of proper leadership skills
- Application of the activities in each process
- Application of tools appropriate for the industry
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According to the ‘defined roles and responsibilities’ principle, what must be represented in the project management team?
- Project board, project manager and project assurance roles
- Directing, managing and delivering levels
- Business, user and supplier interests
- Corporate, programme management or the customer parties
Explanation:Reference: http://prince2.wiki/Define_roles_and_responsibilities -
Which is a minimum requirement for applying the risk theme?
- Threats must be assessed for their impact on the viability of the project
- A single role that is responsible for all risks must be defined
- The PRINCE2 risk management procedure must be followed
- Team managers must maintain their own risk registers
Explanation:Reference: https://www.prince2primer.com/prince2-2017-risk-theme-changes/ -
According to PRINCE2, which characteristic is necessary for an effective project board?
- An ability to delegate
- An attention to detail
- A calm management style
- A ‘problem-solving’ approach
Explanation:Reference: https://www.prince2primer.com/project-board/ -
Which is an objective of the ‘directing a project’ process?
- To review and approve a project mandate
- To ensure corporate or programme management has an interface to the project
- To define how risks, issues and changes will be managed
- To obtain approval for completed products
Explanation:Reference: http://prince2.wiki/Directing_a_Project#Objectiveaa -
Which is a purpose of the ‘identify the risks’ step within the recommended risk management procedure?
- To identify responses to risks documented in the business case
- To identify information about the project environment and objectives
- To identify the roles to be involved in risk management activities
- To identify uncertainties that may impact on the delivery of the project objectives
Explanation:Reference:http://prince2.wiki/Risk#The_Risk_Management_Procedure -
Which product defines how the project board should approve the management products produced during the ‘initiating a project’ process?
- Communication management approach
- Quality management approach
- Project plan
- Initiation stage plan
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Which product describes the method the project will use to engage with corporate, programme management or the customer?
- Quality management approach
- Communication management approach
- Change control approach
- Benefits management approach
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Which is one of the six aspects of project performance to be managed?
- Efficiency
- Timescales
- Estimate
- Work
Explanation:Reference: http://prince2.wiki/Introduction:_The_PRINCE2_Foundation_Training_Manual#Six_variables_.2F_six_performance_targets -
Which is a purpose of the business case theme?
- To identify which role is responsible for producing the business case
- To identify the project’s outputs
- To establish the controls to manage changes that may impact the project benefits
- To establish a viable investment proposition
Explanation:Reference: http://prince2.wiki/Business_Case -
Which role is responsible for appointing the senior user in a project that is independent from a program?
- The project manager
- The executive
- Corporate, program management or the customer
- Project assurance
Explanation:Reference: https://www.prince2primer.com/prince2-roles-and-responsibilities/ -
Which product identifies how often stakeholders require information?
- Communication management approach
- Lessons report
- Configuration item record
- Benefits management approach
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Which is a minimum requirement when applying the business case theme?
- To specify the solution to be used to deliver the business option selected
- To ensure the corporate business plan is updated with the project costs and benefits
- To define the management actions required to ensure the project’s outcomes are achieved
- To integrate the benefits management approach with the project and stage plans
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Which is a minimum requirement for applying the quality theme?
- To define the project’s approach to quality control
- To undertake independent audits of the project throughout the project
- To apply the recommended quality review technique
- To define the project’s approach to quality assurance
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As a minimum requirement for applying the risk theme, what must specifically be assessed?
- Whether a risk may cause the project to exceed its cost tolerance
- Whether a risk may affect the project-level quality tolerances
- Whether a risk may impact the underlying technical assumptions
- Whether a risk may alter the project’s business justification
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What is an advantage of applying the ‘learn from experience’ principle?
- It allows the project board to delegate cost tolerances to the project manager
- It allows the project team to fully understand their roles and responsibilities
- It allows the project manager to delegate time tolerances to the team managers
- It allows the project team to identify improvements to be made during the project