PRINCE2 Foundation Exam Q&A 3

What product would first be sent to the Project Board to inform them of this deviation, if any type of issue or risk cannot be resolved within the tolerances set by the Project Board?

Exception Report

What role is a key decision-maker on the project management team and is ultimately accountable for the project's success?

Executive

What role is responsible for ensuring that the project is focused throughout its life on achieving its objectives?

Executive

What "risk response" seizes an opportunity to ensure that a risk will happen and the impact will be realized?

Exploit

What is the purpose of the risk budget?

Funds set aside from the project budget to cover the costs of implementing risk responses

What is involved in the actions of any planned risk responses and in monitoring their effectiveness?

Implement

What term covers any relevant event that has happened, was not planned, and requires management action?

Issue

During what process is a team plan created?

Managing Product Delivery

When might the Controlling a Stage process be used?

Managing a long initiation stage of a complex project

What would be created if a product's weight was specified to be 13 ounces, but could only be built to a weight of 27 ounces?

Off-specification

During the Managing Product Delivery process, the Team Manager obtains approval for completed products from the authorities identified in the Product Description.

Only Statement II is true

Fill in the blank in the following sentence: The development and maintenance of a credible __________ provides a baseline against which progress can be measured.

Plan

What is the integrated element that is described as being the guiding obligations and good practices that determine whether the project is genuinely using PRINCE2?

Principles

What product defines a product's quality tolerance?

Product Description

What project management team role is appointed by the Project Board to check if the Communications Management Strategy covers all the stakeholders' requirements for the next stage?

Project Assurance

What role has the specific responsibility for advising on the selection of the development strategy, design, and methods?

Project Assurance

What statement accurately describes the differences between project assurance and quality assurance?

Project Assurance provides assurance to the project's stakeholders, whereas quality assurance provides assurance to the wider corporate or program organization

What role is ultimately accountability to corporate or program management for the ultimate success of the project?

Project Board

What product does the Project Board use as a baseline against which to monitor the project progress on a stage by stage basis?

Project Plan

What is produced in the Starting Up a Project process to define the way the project is to be delivered after evaluating the various delivery methods?

Project approach

When does the Project Board have overall control?

Project level within project tolerance

What triggers the Starting up a Project process?

Project mandate

What does effective risk management help to ensure?

Project objectives

How can a team member make a suggestion to improve a product?

Raise the suggestion as an issue

What is the objective of the Managing a Stage Boundary process?

Request authorization to start the next stage

What is defined within the Organization theme?

Responsibilities for managing teams

What role realizes the expected benefits of the project?

Senior User

Depending on the complexity of the project, what is considered optional?

Team Plan

What statement is NOT correct concerning the definition of a technical stage?

Technical stages never overlap

A Project is a _____ that is created for the purpose of delivering one or more business products according to an agreed Business Case. What word best fills in the blank?

Temporary organization

What BEST describes the term Risk Cause?

The situation that gives rise to the risk

What statement BEST describes the purpose of a Business Case?

They document the justification for undertaking the project based on estimated costs and the benefits to be gained and offset by any associated risks

According to PRINCE2, what aspect of project performance should be managed?

Time, cost, quality, scope, benefits, risk

What is the purpose of the Progress theme?

To establish mechanisms to monitor and control what has happened against what had been planned

What BEST describes a change budget's purpose?

To pay for any increase in scope

What is NOT a purpose of the Risk theme in PRINCE2?

To verify products are fit for purpose

What could be defined as a concession?

When an off-specification is accepted by the Project Board or Change Authority without immediate corrective action

What BEST describes the passing of responsibility to a Team Manager for the construction of one or more products?

Work Package

What is the first task of the product-based planning technique?

Write the Project Product Description

What is the responsibility of the Project Assurance role?

Ensure the Project Manager is aware of the need to use any existing corporate standards

What is established as a prerequisite of effective issue and change control?

A configuration management system

What is the responsibility of the business representative on the Project Board?

Ensuring the project represents value for money

What is the Business Case theme's purpose?

Establish methods to judge whether the ongoing project is justified

Which role is a part of the quality review team?

Administrator

What management level includes controlling unacceptable deviations within the Progress theme?

All levels of management

What statement is TRUE regarding stakeholders?

All three primary categories of stakeholder have their interests represented by the Project Board

How is the Project Initiation Documentation used when Closing a Project process?

As the basis for comparing the original aim of the project against what was actually achieved

What is a specific objective of a quality review?

Baseline the product for change control purposes

A project is a temporary organization that is created for the purpose of delivering one or more business products according to an agreed _______. Which word best fills in the blank?

Business Case

What is the Executive specifically responsible for overseeing the development of?

Business Case

What statement BEST describes the responsibilities of a risk actionee?

Carrying out a risk response action to respond to a particular risk

Which role is a part of the quality review team?

Chair

What is a specific responsibility of Project Assurance?

Checking the right people are being involved in writing product descriptions

What process ensures that the post-project benefits are realized, managed, and reviewed?

Closing a Project

What is NOT an activity of a configuration management procedure?

Communicate

What principle is a prerequisite for effective risk management?

Continued business justification

What process handles the acceptance and execution of project work by external suppliers?

Controlling a Stage

What role should receive an escalation of the forecast breach of project tolerance if the tolerances are exceeding in the project?

Corporate or program management

What BEST describes the main purpose of the Organization theme?

Define the responsibilities for managing teams

What should be the first task to be performed on receipt of a new issue?

Determine whether the issue is a request for change, off-specification, or a problem/concern