4.5.3 Explain the Purpose of the Key Management Products Required to Support the ‘risk’ Practice: (9.5) PRINCE2-FOUNDATION-VERSION-7 Practice Questions (Page 2)

Questions 6–10

1. 6application · medium

   During a project, a team member identifies a new threat that could delay the delivery of a key product. The project manager needs to capture the cause, event, and effect of this threat so it can be analyzed and managed. Which management product should the project manager update?

   • AThe risk management approach, adding a new response category
   • BThe risk register, recording the risk description and its details
   • CThe quality register, recording the risk as a quality defect
   • DThe lessons log, noting the risk for future projects
   Reveal Solution Discussion Select an answer first
2. 7application · medium

   A project manager is reviewing the project log and notices that a previously identified risk has been reassessed. The probability has increased, and the planned response is no longer considered effective. The project manager needs to ensure the updated information is available to the project team. What should the project manager do?

   • AInform the project board via the end stage report
   • BCreate a new entry in the lessons log for the ineffective response
   • CUpdate the risk management approach to reflect the new probability
   • DUpdate the risk register with the new probability and revise the planned response
   Reveal Solution Discussion Select an answer first
4. 8expert · hard

   A project manager is defining the risk management approach for a project that operates in two countries with different regulatory requirements for data handling. The project board has mandated that risk assessments must be conducted using a single, consistent scale across both locations, but local teams have historically used different scales. The project manager needs to document a solution that satisfies the board while accommodating local needs. What should the project manager do?

   • AUse the risk register to record risks with both scales applied
   • BCreate two separate risk management approaches, one for each country
   • CAdopt the local scales and document them in the project plan
   • DDefine a single risk management approach with a common scale and document any local adaptations as exceptions
   Reveal Solution Discussion Select an answer first
5. 9application · medium

   A project board has approved a project and requested that the project manager define how risk responses will be funded and who has authority to approve them. The project manager must document this governance arrangement. Which management product should be updated?

   • AThe risk management approach, specifying the response approval process and budget authority
   • BThe project brief, updating the project objectives
   • CThe highlight report, informing stakeholders of the funding rules
   • DThe risk register, adding the funding details to each risk entry
   Reveal Solution Discussion Select an answer first
6. 10application · medium

   A project manager is conducting a risk workshop with the team. During the workshop, several new risks are identified, and the team agrees on response actions for each. The project manager needs to ensure that these risks and their agreed responses are formally recorded for ongoing management. What should the project manager do?

   • AAdd the new risks and their responses to the risk register
   • BDocument the risks in the lessons log for future reference
   • CUpdate the risk management approach with the new risks
   • DInclude the risks in the next highlight report only
   Reveal Solution Discussion Select an answer first