PRINCE2 PRINCE2-7-Foundation Practice Test - Questions Answers, Page 2

The first task of product-based planning in PRINCE2 is to write the Project Product Description. This description defines the project's main output, outcome, or benefit and includes the project's scope and major deliverables, forming the basis for more detailed planning.

Reference: PRINCE2 Foundation manual, PRINCE2 official resources

PRINCE2 is designed to make efficient and economic use of management time, ensuring that project management is effective without being overly bureaucratic or time-consuming. This approach helps to maximize the value received from management efforts and resources.

Reference: PRINCE2 Foundation official study materials.

In the PRINCE2 customer/supplier environment, the supplier's responsibility includes providing the resources and skills necessary to deliver the desired result. This involves ensuring that the necessary personnel, technology, and other resources are available to meet the project's requirements effectively.

Reference: PRINCE2 Foundation official study materials.

The principle of continued business justification in PRINCE2 means that a project must remain justified throughout its life cycle. The key factor is the project's ongoing justification, not solely its ability to deliver financial benefits. Projects may continue for reasons other than financial gain, such as strategic importance, compliance, or public safety. Therefore, stopping a project based only on financial criteria does not reflect this principle accurately.

Reference: PRINCE2 Foundation manual, PRINCE2 official resources

The Highlight Report in PRINCE2 is used by the Project Manager to review the performance of a Work Package against its cost tolerance, among other factors. This report provides the Project Board with a summary of the stage status, and is a key tool for monitoring overall project progress, including financial performance.

Reference: PRINCE2 Foundation manual, PRINCE2 official resources

The mechanisms established by the Progress theme in PRINCE2 are used by all levels of management to control any unacceptable deviations. This includes the Project Board, Project Manager, and higher management levels, ensuring that everyone involved in the project management team can effectively monitor and control the project's progress and address issues as they arise.

Reference: PRINCE2 Foundation manual, PRINCE2 official resources

PRINCE2 defines three levels of planning: Project Plan, Stage Plan, and Team Plan. The Team Plan is one of these three levels, specifically designed to manage the delivery of the work packages assigned to the team within a management stage.

Reference: PRINCE2 Foundation official documentation and study materials.

The Plans theme in PRINCE2 is responsible for estimating the cost of delivering the project. This theme involves the development of plans that outline how, when, and by whom the project's objectives are to be achieved, including the necessary resources and associated costs.

Reference: PRINCE2 Foundation official documentation and study materials.

A task of product-based planning in PRINCE2 is to write the Project Product Description. This is part of defining and documenting the project's output, outcome, and benefits, which are crucial for planning the project effectively.

Reference: PRINCE2 Foundation official documentation and study materials.