In PRINCE2, what is the risk budget used for?

To fund the cost of implementing risk responses for identified threats and opportunities

To cover the cost of the project management team's salaries

To pay for any unexpected cost overrun in the project

To fund the creation of the risk management approach document

Home/Organizations/PeopleCert/Exam PRINCE2-FOUNDATION-VERSION-7/4.5.5 Describe the guidance for effective management of risk/Practice Page 7

PRINCE2 Foundation (Version 7)

Domain 4Objective 30

4.5.5 Describe the Guidance for Effective Management of Risk PRINCE2-FOUNDATION-VERSION-7 Practice Questions (Page 7)

Part of the Understand the PRINCE2 practices and how they are applied throughout the project domain, which accounts for 60% of the PRINCE2-FOUNDATION-VERSION-7 exam. PeopleCert does not publish an official question count, but from its 60-minute exam (~25–40 total, ~15–24 in this domain), expect 1–1 from this objective — we provide 31 practice questions to prepare you well beyond it. (estimate)

31questions here

7free pages

7concepts

60%of the exam

Curriculum map

Understand key concepts relating to projects and PRINCE2
Understand how the PRINCE2 principles underpin the PRINCE2 method
Understand the importance of people in successful projects
Understand the PRINCE2 practices and how they are applied throughout the project
Understand the PRINCE2 processes and how they are carried out throughout the project

7 Concepts in This Objective

Risk planning
Risk analysis
Risk control
Risk culture
Decision bias
Risk response types
Use of data in risk management

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Questions 31–31

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Other objectives in Understand the PRINCE2 practices and how they are applied throughout the project

4.1 Explain the Purpose of PRINCE2 Management Products, Including4 pages of practice
4.1.1 Explain the Purpose of the ‘business Case’ Practice (5.1)5 pages of practice
4.1.2 Describe the Key Relationships Between the ‘business Case’ Practice and the Principles (5.7, Tab 5.2)6 pages of practice
4.1.3 Explain the Purpose of the Key Management Products Required to Support the ‘business Case’ Practice (5.5)3 pages of practice
4.1.4 Define Key Concepts Related to the ‘business Case’ Practice: (5.1)4 pages of practice
4.1.5 Describe the Guidance for Effective Management of the Business Case, Including: (5.2)4 pages of practice
4.1.6 Describe the PRINCE2 Technique for the ‘business Case’ Practice (5.3.1)6 pages of practice
4.2.1 Explain the Purpose of the ‘organizing’ Practice (6.1)5 pages of practice
4.2.2 Describe the Key Relationships Between the ‘organizing’ Practice and the Principles (6.7, Tab 6.5)7 pages of practice
4.2.3 Explain the Purpose of the Key Management Products Required to Support the ‘organization’ Practice: (6.5)4 pages of practice
4.2.4 Define Key Concepts Related to the ‘organizing’ Practice5 pages of practice
4.2.5 Describe the Guidance for Effective Organizing Of4 pages of practice
4.2.6 Describe the PRINCE2 Technique for the ‘organizing’ Practice (6.3.1)6 pages of practice
4.3.1 Explain the Purpose of the ‘plans’ Practice (7.1)4 pages of practice
4.3.2 Describe the Key Relationships Between the ‘plans’ Practice and the Principles (7.7, Tab 7.2)6 pages of practice
4.3.3 Explain the Purpose of the Key Management Products Required to Support the ‘plans’ Practice: (7.5)4 pages of practice
4.3.4 Define Key Concepts Related to the ‘plans’ Practice6 pages of practice
4.3.5 Describe the Guidance for Effective Management of Plans5 pages of practice
4.3.6 Describe the PRINCE2 Technique for the ‘plans’ Practice (7.3.1)7 pages of practice
4.4.1 Explain the Purpose of the ‘quality’ Practice (8.1)6 pages of practice
4.4.2 Describe the Key Relationships Between the ‘quality’ Practice and the Principles (8.7, Tab 8.3)6 pages of practice
4.4.3 Explain the Purpose of the Key Management Products Required to Support the ‘quality’ Practice: (8.5)5 pages of practice
4.4.4 Define Key Concepts Related to the ‘quality’ Practice5 pages of practice
4.4.5 Describe the Guidance for Effective Management of Quality4 pages of practice
4.4.6 Describe the PRINCE2 Technique for the ‘quality’ Practice (8.3.1)7 pages of practice
4.5.1 Explain the Purpose of the ‘risk’ Practice (9.1)6 pages of practice
4.5.2 Describe the Key Relationships Between the ‘risk’ Practice and the Principles (9.7, Tab 9.4)5 pages of practice
4.5.3 Explain the Purpose of the Key Management Products Required to Support the ‘risk’ Practice: (9.5)4 pages of practice
4.5.4 Define Key Concepts Related to the ‘risk’ Practice5 pages of practice
4.5.6 Describe the PRINCE2 Technique for the ‘risk’ Practice (9.3.1)7 pages of practice
4.6.1 Explain the Purpose of the ‘issues’ Practice (10.1)4 pages of practice
4.6.2 Describe the Key Relationships Between the ‘issues’ Practice and the Principles (10.7, Tab 10.3)6 pages of practice
4.6.3 Explain the Purpose of the Key Management Products Required to Support the ‘issues’ Practice: (10.5)5 pages of practice
4.6.4 Define Key Concepts Related to the ‘issues’ Practice4 pages of practice
4.6.5 Describe the Guidance for Effective Management of Issues3 pages of practice
4.6.6 Describe the PRINCE2 Technique for the ‘issues’ Practice (10.3.1)6 pages of practice
4.7.1 Explain the Purpose of the ‘progress’ Practice (11.1)3 pages of practice
4.7.2 Describe the Key Relationships Between the ‘progress’ Practice and the Principles (11.7, Tab 11.4)6 pages of practice
4.7.3 Explain the Purpose of the Key Management Products Required to Support the ‘progress’ Practice: (11.5)4 pages of practice
4.7.4 Define Key Concepts Related to the ‘progress’ Practice4 pages of practice
4.7.5 Describe the Guidance for Effective Management of Progress5 pages of practice
4.7.6 Describe the PRINCE2 Technique for the ‘progress’ Practice (11.3.1)5 pages of practice

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