A PRINCE2 project must demonstrate the application of its seven principles throughout the project's lifecycle. These principles are universal, self-validating, and empowering, ensuring that the project management approach is effective and applicable under various project circumstances. References: PRINCE2® Foundation Handbook, Principles section.
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Question 137
Which document should record the agreed amount of risk budget for a project?
Options:
A.
Project Brief
B.
Project Plan
C.
Risk Management Strategy
D.
Risk Register
Answer:
C
Explanation:
Explanation:
The agreed amount of risk budget for a project is recorded in the Risk Management Strategy document. This document outlines how risks will be managed throughout the project, including the budget set aside specifically for implementing risk responses. It provides a structured approach to managing risks, including their identification, assessment, planning responses, and the funds allocated for these activities.References: PRINCE2® 7 Foundation handbook and documents.
Question 138
Which is a purpose of the Risk theme?
Options:
A.
Establish a procedure to ensure every change is agreed by the relevant authority before it takes place
B.
Establish a cost-effective procedure to identify, assess and control uncertainty
C.
Establish mechanisms to control any unacceptable deviations from plan
D.
Establish mechanisms to manage risks at the corporate or programme level of an organization
Answer:
B
Explanation:
Explanation:
The purpose of the Risk theme in PRINCE2 is to establish a cost-effective procedure to identify, assess, and control the uncertainties or risks that can affect the achievement of project objectives. This involves understanding how risks can impact the project and managing them proactively to ensure project success. References: PRINCE2® Foundation Training Manual; PRINCE2® 2017 Foundation handbook.
