Free Practice Questions for PRINCE2 Prince2-Foundation Exam

A key decision made during the 'directing a project' process is to confirm that the benefits management approach addresses all expected benefits. This ensures that the project is aligned with its intended outcomes and that all potential benefits are adequately planned for and tracked. References: PRINCE2® Foundation Training Manual; PRINCE2® 2017 Foundation handbook.

Risk probability in PRINCE2 refers to the measure of the likelihood that a particular risk will occur. It is a fundamental aspect of risk assessment, influencing the prioritization and management of risks within the project. References: PRINCE2® Foundation Training Manual; PRINCE2® 2017 Foundation handbook.

Both Quality Assurance and Project Assurance are independent of the project manager, and they both ensure that applicable standards are used in the project. Quality Assurance is typically an external function that checks the project is using the right processes, while Project Assurance is internal to the project and provided by the project board, ensuring that the project continues to align with its objectives and the organizational environment. References: PRINCE2® 7 Foundation Handbook and official training materials.

Decisions regarding the tailoring of the project should be recorded in the Project Initiation Documentation (PID). The PID is the key document that defines how the project is to be managed and includes specific references to any tailoring decisions made to fit the project's environment. References: PRINCE2® Foundation Handbook, Project Initiation Documentation section.

In PRINCE2®, the Executive role is responsible for ensuring that the project is justifiable in terms of cost. This includes making decisions about whether the project remains viable and desirable within its cost constraints. The Executive is tasked with the overall direction and management of the project from a business perspective, ensuring that it delivers value for money.References: PRINCE2® 7 Foundation resources and materials.

The benefits of using PRINCE2 include promoting learning and continuous improvement, and its ability to be applied to any type of project. PRINCE2 provides a flexible methodology that encourages iterative learning from both current and past projects while being adaptable to various industries and project sizes. References: PRINCE2® 7 Foundation Handbook and official training materials.

The PRINCE2 principle of "Defined roles and responsibilities" is crucial because it establishes a clear understanding of who is involved in the project and what each member of the team is expected to do. This clarity ensures that everyone knows their specific responsibilities, contributing to effective project governance and smooth execution. References: PRINCE2® 7 Foundation Handbook and official training materials.

A minimum requirement for applying the Quality theme is to use lessons learned to inform quality planning. This ensures that insights gained from past projects or earlier phases of the current project are used to improve quality management practices throughout the project's lifecycle. References: PRINCE2® Foundation Training Manual; PRINCE2® 2017 Foundation handbook.

The objectives of the 'Managing a Stage Boundary' process include providing the project board with information about the performance of the current stage and reviewing and updating the project management team structure and role descriptions if necessary. These objectives are critical to ensuring that the project adapts to any changes and continues to align with its objectives efficiently. References: PRINCE2® 7 Foundation Handbook and official training materials.

The purpose of a project brief in PRINCE2® is to provide a full and firm foundation for the initiation of the project. It includes information necessary to decide whether or not to initiate the project and acts as a base document against which the project board and key stakeholders can assess project progress during its lifecycle. References: PRINCE2® Foundation Handbook, Project Brief section.