3.5 Risk PRINCE2-PRACTITIONER-VERSION-7 Practice Questions (Page 1)

Questions 1–5

1. 1foundation · easy

   Which of the following is a criterion for evaluating the effectiveness of the risk practice?

   • AWhether the project manager has a personal risk log
   • BWhether the risk register is up to date and reflects the current risk status
   • CWhether all risks have been eliminated
   • DWhether the risk management approach is the same as for other projects
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2. 2application · medium

   A multinational project involves multiple regulatory environments. The project manager needs to ensure that risk management complies with local regulations while maintaining a consistent approach across the project. What is the most appropriate way to tailor the risk practice?

   • ACreate separate risk registers for each location and do not share information
   • BOutsource risk management to local experts in each country
   • CUse a single global risk management approach without any local adjustments
   • DDevelop a risk management approach that defines core principles and allows local adaptations
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4. 3application · medium

   A project manager is assessing a risk that could delay the project by two weeks if it occurs. The probability is rated as 'likely' and the impact as 'major' on the organization's 5x5 risk matrix. The project manager wants to prioritize this risk against others. What is the most appropriate next step in the risk management procedure?

   • AUpdate the risk management approach to include this risk
   • BImmediately escalate the risk to the project board for a decision
   • CRecord the risk in the risk register and move to the next risk
   • DEvaluate the risk exposure using the risk matrix and decide on a response
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5. 4application · medium

   A project manager needs to communicate a newly identified risk to the project board. The risk is not yet fully assessed. What is the most appropriate way to communicate this risk?

   • AInform the board immediately with the available information
   • BUpdate the risk management approach to include the risk
   • CWait until the risk is fully assessed before informing the board
   • DRecord the risk in the risk register and wait for the next report
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6. 5foundation · easy

   When tailoring the risk practice for a small, low-complexity project, what is the most appropriate approach?

   • AUse the full risk management procedure with all techniques and detailed reporting
   • BSkip the risk management procedure entirely
   • CUse the same risk management approach as for a large project
   • DSimplify the risk management approach and risk register to match the project's scale
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