PRINCE2 PRINCE2-7-Foundation Practice Test - Questions Answers, Page 32

The Communication Management Approach in PRINCE2 defines how information should be sent to interested parties and how often this information should be communicated. It includes details on the methods and frequency of communication necessary to engage stakeholders effectively and ensure that everyone who needs to be informed about the project has the right information at the right time.

Reference: PRINCE2 Foundation Manual

One of the advantages of dividing the project into stages, as advocated by PRINCE2, is that detailed plans can be prepared closer to the time events will take place. This allows planning to be based on more accurate, up-to-date information, improving the relevance and accuracy of the plans. This approach also allows for better response to changes and risks, as planning for later stages can adjust based on the outcomes and learnings from earlier stages.

Reference: PRINCE2 Foundation Manual

PRINCE2 benefits organizations and project management by promoting consistency across project work and facilitating the reuse of project assets. This includes methodologies, processes, and lessons learned which enhance efficiency and effectiveness in managing projects, thereby contributing to consistent project success and resource optimization.

Reference: = PRINCE2 7 Foundation handbook and online resources

The 'Managing Product Delivery' process in PRINCE2 achieves its purpose by ensuring that the work required to deliver the project's products is agreed upon and conforms to the defined requirements. This process manages the link between the project manager and the team members by agreeing on assignments, ensuring that planned products are delivered to specifications, and that work progresses as planned.

Reference: = PRINCE2 7 Foundation handbook and online resources

In a commercial environment, it is common for each party involved in a project---namely the customer and suppliers---to have their own business case. This reflects their individual motives, expected benefits, and investment rationale for undertaking the project. Each party's business case addresses their specific strategic, commercial, and operational needs.

Reference: = PRINCE2 7 Foundation handbook and online resources

During the 'Initiating a Project' process in PRINCE2, it is the responsibility of the project board to specify the required level of management control. This includes defining how the project will be managed, monitored, and controlled throughout its lifecycle. The project board ensures that the project remains viable and that management decisions are made with the appropriate level of oversight.

Reference: = PRINCE2 7 Foundation handbook and online resources

People who join a project after initiation can quickly and easily find comprehensive information about how the project is being managed in the Project Initiation Documentation (PID). The PID provides a detailed basis for the management of the project, including how the project is structured, governed, and what methods are being used. It is a central document that encapsulates all key information needed to understand the project management approach.

Reference: PRINCE2 Foundation Manual

One of the minimum requirements when applying the 'risk' theme in PRINCE2 is to assess whether risks could materially impact the business justification of the project. This assessment is crucial because it directly influences whether the project remains viable and worth continuing, in alignment with the continued business justification principle.

Reference: PRINCE2 Foundation Manual

A risk actionee in PRINCE2 is responsible for managing, monitoring, and controlling all aspects of a specifically assigned risk. This role includes planning and implementing appropriate risk responses and ensuring that the risk is handled effectively throughout its lifecycle in the project.

Reference: PRINCE2 Foundation Manual