At which point in the project is the business case formally reviewed and updated?

Whenever a new team member joins

At the start of the project only

How does the business case practice incorporate lessons learned to inform decision-making?

By ensuring that lessons are documented only at the end of the project

By requiring that all lessons are approved by the project board

By preventing any changes to the business case based on lessons

By using lessons from previous projects to improve the accuracy of benefit forecasts and cost estimates

A project is in stage 2 of 4. The project board has set a cost tolerance of plus or minus 10% for the project. The project manager forecasts that the project will exceed the cost tolerance by 15%. The business case is still viable, but the project will require additional funding. What should the project manager do?

Ask the project assurance to approve the additional funding.

Escalate the forecast overrun to the project board as an exception.

Revise the business case to reflect the higher costs and continue.

Continue with the project and report the overrun at the next stage boundary.

What is the purpose of using lessons learned within the business case practice?

To improve the quality of decision-making by applying relevant experience

To replace the need for a project plan

To ensure the project team follows a standard process

Home/Organizations/PeopleCert/Exam PRINCE2-FOUNDATION-VERSION-7/4.1.2 Describe the key relationships between the ‘business case’ practice and the principles (5.7, tab 5.2)/Practice Page 5

PRINCE2 Foundation (Version 7)

Domain 4Objective 3

4.1.2 Describe the Key Relationships Between the ‘business Case’ Practice and the Principles (5.7, Tab 5.2) PRINCE2-FOUNDATION-VERSION-7 Practice Questions (Page 5)

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 28 practice questions to prepare you well beyond it. (estimate)

28questions here

6free pages

10concepts

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

10 Concepts in This Objective

Business case practice definition
Principles overview
Business case and continued business justification
Business case and learn from experience
Business case and defined roles and responsibilities
Business case and manage by stages
Business case and manage by exception
Business case and focus on products
Business case and tailor to suit the project environment
Interplay between business case and principles

All 6 pages of PRINCE2-FOUNDATION-VERSION-7 4.1.2 Describe the key relationships between the ‘business case’ practice and the principles (5.7, tab 5.2) practice

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6

Questions 21–25

21foundation · easy
At which point in the project is the business case formally reviewed and updated?
Select an answer first
22foundation · easy
How does the business case practice incorporate lessons learned to inform decision-making?
Select an answer first
23foundation · easy
Who is responsible for creating the outline business case during the 'Starting up a Project' process?
Select an answer first
24expert · hard
A project is in stage 2 of 4. The project board has set a cost tolerance of plus or minus 10% for the project. The project manager forecasts that the project will exceed the cost tolerance by 15%. The business case is still viable, but the project will require additional funding. What should the project manager do?
Select an answer first
25foundation · easy
What is the purpose of using lessons learned within the business case practice?
Select an answer first

Finished these 5 questions?

Review the revealed explanations, or continue through the curriculum.

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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
4.1.3 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
4.5.5 Describe the Guidance for Effective Management of Risk7 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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