A project manager is analyzing risks in the context of the project plan. The project manager has identified a risk that a key supplier may not deliver a critical component on time, which would delay the project. The project manager needs to assess the risk and incorporate a response into the plan. What should the project manager do first?

Escalate the risk to the project board for a decision.

Assess the probability and impact of the risk to determine its severity.

Update the project plan to include the risk and its potential impact.

Plan a response to mitigate the risk, such as identifying an alternative supplier.

A project manager is using the PRINCE2 product-based planning technique to plan a project that will deliver a new customer relationship management (CRM) system. The project manager has already written the project product description. What is the next step in the planning technique?

Prepare estimates for the activities using bottom-up estimating.

Write the plan description, including the plan's prerequisites and external dependencies.

Identify the activities required to produce the products and the dependencies between them.

Create the product breakdown structure (PBS) by breaking down the project product into its constituent products.

Which planning technique is recommended by PRINCE2?

Critical chain project management

A project manager is preparing estimates for a project. The project manager has identified the activities and their dependencies, and has prepared bottom-up estimates for each activity. However, the project manager is concerned that the estimates may be too optimistic, as the project team has a tendency to underestimate the effort required. What should the project manager do to address this concern?

Use parametric estimating to calculate estimates based on a statistical relationship.

Use three-point estimating to calculate a weighted average of optimistic, pessimistic, and most likely estimates.

Accept the bottom-up estimates, as they are based on the team's expert judgment.

Increase the bottom-up estimates by a fixed percentage to account for the team's optimism.

PRINCE2 Foundation (Version 7)

Domain 4Objective 19

4.3.6 Describe the PRINCE2 Technique for the ‘plans’ Practice (7.3.1) PRINCE2-FOUNDATION-VERSION-7 Practice Questions (Page 6)

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

33questions here

7free pages

10concepts

60%of the exam

Questions 26–30

26application · medium
A project manager is analyzing risks in the context of the project plan. The project manager has identified a risk that a key supplier may not deliver a critical component on time, which would delay the project. The project manager needs to assess the risk and incorporate a response into the plan. What should the project manager do first?
Select an answer first
27application · medium
A project manager is using the PRINCE2 product-based planning technique to plan a project that will deliver a new customer relationship management (CRM) system. The project manager has already written the project product description. What is the next step in the planning technique?
Select an answer first
28foundation · easy
Which planning technique is recommended by PRINCE2?
Select an answer first
29expert · hard
A project manager is preparing estimates for a project. The project manager has identified the activities and their dependencies, and has prepared bottom-up estimates for each activity. However, the project manager is concerned that the estimates may be too optimistic, as the project team has a tendency to underestimate the effort required. What should the project manager do to address this concern?
Select an answer first
30foundation · easy
Which of the following is a typical component of a PRINCE2 plan?
Select an answer first

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4.3.6 Describe the PRINCE2 Technique for the ‘plans’ Practice (7.3.1) PRINCE2-FOUNDATION-VERSION-7 Practice Questions (Page 6)

Questions 26–30

A project manager is using the PRINCE2 product-based planning technique to plan a project that will deliver a new customer relationship management (CRM) system. The project manager has already written the project product description. What is the next step in the planning technique?

Which planning technique is recommended by PRINCE2?

Which of the following is a typical component of a PRINCE2 plan?

Keep studying — Understand the PRINCE2 practices and how they are applied throughout the project