4.7.4 Define Key Concepts Related to the ‘progress’ Practice PRINCE2-FOUNDATION-VERSION-7 Practice Questions (Page 2)

Questions 6–10

1. 6expert · medium

   A project manager is managing a project with a tight budget. The project board has set a cost tolerance of ±2% at the project level. The project manager is considering using event-driven controls to monitor costs more closely. Which of the following is the best approach?

   • AImplement a weekly highlight report and a monthly exception report
   • BImplement a monthly highlight report and an exception report for any forecast breach of tolerance
   • CImplement only a monthly highlight report
   • DImplement only an exception report for any forecast breach of tolerance
   Reveal Solution Discussion Select an answer first
2. 7application · medium

   A project manager is managing a product launch. The project board has set a tolerance of ±5% on the project's timeline. The project manager calculates that the project will finish two weeks later than planned, which is within the tolerance. What should the project manager do?

   • ARequest a change to the project's timeline tolerance
   • BContinue with the project and report the delay in the next highlight report
   • CRevise the project plan to eliminate the delay
   • DEscalate the delay to the project board as an exception
   Reveal Solution Discussion Select an answer first
4. 8application · medium

   A project board has set a tolerance of ±5% on the project's cost. The project manager forecasts that the cost will be 6% over budget. What should the project manager do?

   • AEscalate the cost overrun to the project board as an exception
   • BRevise the project plan to reduce costs
   • CContinue with the project and report the cost status in the next highlight report
   • DRequest a change to the project's cost tolerance
   Reveal Solution Discussion Select an answer first
5. 9foundation · easy

   Which of the following is an example of a time-driven control in PRINCE2?

   • AA highlight report submitted to the project board on a monthly basis
   • BA stage boundary assessment at the end of a management stage
   • CA request for advice from the project board when a risk materializes
   • DAn exception report issued when a tolerance is forecast to be breached
   Reveal Solution Discussion Select an answer first
6. 10foundation · easy

   How is an exception typically identified and managed in PRINCE2?

   • ABy conducting a risk workshop to identify potential issues
   • BBy waiting until the end of the project to review overall performance
   • CBy comparing actual progress against the plan and escalating if tolerances are forecast to be exceeded
   • DBy automatically adjusting the project plan without escalation
   Reveal Solution Discussion Select an answer first