PRINCE2 PRINCE2-7-Foundation Practice Test - Questions Answers

PRINCE2 defines event-driven controls as those that are triggered by the occurrence of certain events within the project lifecycle, such as the completion of a product or phase. These controls are essential for decision-making because they provide necessary information at key points, allowing project managers and the Project Board to make informed decisions about the future of the project.

Reference: PRINCE2 Foundation manual, PRINCE2 official resources

The Project Product Description in PRINCE2 should clearly define acceptance methods to ensure that there is a concrete plan for demonstrating that the final project product meets the customer's quality expectations. This is crucial for aligning the project's outputs with the customer's needs and expectations. While it is part of broader quality control and assurance mechanisms, the specific role of defining acceptance methods is to make clear how compliance with quality expectations will be verified.

Reference: PRINCE2 7 Foundation study guide and documents.

The primary purpose of the Quality theme in PRINCE2 is to establish and maintain the processes and procedures that will ensure all products created during the project meet the predefined quality requirements. This includes planning, assurance, and control of quality. The Quality theme focuses on defining and implementing quality standards that the project must adhere to, rather than dealing directly with broader organizational quality assurance or the project scope.

Reference: PRINCE2 7 Foundation handbook and other official documents.

In PRINCE2, a risk is defined as any uncertain event or set of events that, if it occurs, will have an impact on the achievement of project objectives. This definition emphasizes the uncertainty and potential effect on objectives, rather than the certainty or immediate occurrence of an event.

Reference: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.

The risk response type 'Exploit' is specifically designed to ensure that the opportunity is realized. This response is proactive and aims at making changes to exploit the opportunity fully, which aligns with managing opportunities within PRINCE2 risk management.

Reference: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.

The risk response type 'Transfer' is applicable to both threats and opportunities. This response involves transferring the ownership of the risk to a third party who is better able to manage the risk, thus applying to both positive and negative risks.

Reference: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.

When defining risk tolerance, the factors considered include the Project Board's attitude towards risk, the organization's risk appetite, and the level of risk deemed acceptable by the Project Board. The allocated risk budget is not a direct consideration in defining risk tolerance; rather, it is a resource aspect managed within the tolerances set for the project.

Reference: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.

Topic 2, Exam Pool B

The purpose of an End Project Report in PRINCE2 is to review how well the project performed against the Project Initiation Documentation (PID) used to authorize it. This report provides a final account of the project, including whether it met its objectives and delivered the expected benefits, and highlights lessons learned to inform future projects.

Reference: PRINCE2 Foundation manual, PRINCE2 official resources

A PRINCE2 project should consist of a start-up stage, an initiation stage, and at least one other management stage to cover the remainder of the project. This structure ensures that the project is properly initiated and planned before entering into a series of management stages where the work is executed and completed, followed by a closing stage.

Reference: PRINCE2 Foundation manual, PRINCE2 official resources