Free Practice Questions for PRINCE2 Prince2-Foundation Exam

Similar to question 411, the answer remains consistent for monitoring the progress of a stage. The combination of Highlight Reports and Checkpoint Reports provides the project manager with both high-level and detailed insights into the stage's progress. Highlight Reports summarize stage status for the Project Board, while Checkpoint Reports offer detailed progress updates from the team level.References: (PRINCE2® 7 Foundation Handbook, AXELOS)

The step where the project manager needs to document how risk management will be undertaken during the project is during the "Identify: define context and objectives" step of the risk management technique. This initial step is crucial for setting the scope and objectives of risk management activities, providing a framework for identifying, assessing, and managing risks throughout the project.References: (PRINCE2® 7 Foundation Handbook, AXELOS)

The 'managing product delivery' process in PRINCE2 defines the work needed to deliver major products, ensuring effective use of organizational resources. This process focuses on the acceptance, execution, and delivery of project products according to agreed plans between the project manager and the team manager.References: PRINCE2® 7 Foundation guide on the 'managing product delivery' process.

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The 'manage by stages' principle in PRINCE2 dictates that the end of each stage provides a control point at which the project board can review progress, reassess project viability, and decide on the next steps. This approach allows for regular monitoring and decision-making, ensuring that the project remains aligned with its objectives and within its tolerances.References: PRINCE2® 7 Foundation guide on the 'manage by stages' principle.

In the 'planning' technique of PRINCE2, understanding what makes the outputs acceptable to the users occurs during the step of "Defining and Analyzing the Products." This step involves detailed discussions about product requirements and specifications to ensure clarity on what the project must deliver for it to be accepted by the users. It sets out the criteria that the products must meet to satisfy the user's needs and expectations.References: (PRINCE2® 7 Foundation Handbook, AXELOS)

The principle of 'manage by exception' in PRINCE2 involves setting limits on delegated authority concerning time, cost, quality, scope, risk, and benefits. Here, the aspect of performance that sets limits against the cost of aggregated threats is "Cost". This includes setting tolerances for what can be considered acceptable deviations from the plan before an issue needs to be escalated to a higher authority. Managing by exception helps in efficient use of management time and focuses on deviations that might affect the project's success.References: (PRINCE2® 7 Foundation Handbook, AXELOS)

User's quality expectations are documented in the 'Project Product Description.' This document defines what the project must deliver to meet the user's expectations, including the quality requirements and acceptance criteria for the final product, ensuring alignment with user needs and standards.References: PRINCE2® 7 Foundation documentation on quality management and project product descriptions.

In PRINCE2, the project baseline should be updated when a change has been formally approved by the change authority. This is because the baseline represents the agreed standards and plan against which the project's performance is measured. Updating the baseline after the approval of changes ensures that the project documentation accurately reflects the current scope, timescales, and resource allocations, which are essential for tracking progress and managing by exception effectively.References: (PRINCE2® 7 Foundation Handbook, AXELOS)

In PRINCE2, issue management and change control are closely related, where issue management is considered a subset of change control. Change control is a broader process that encompasses all aspects of managing changes within the project, including issues that might impact the project’s scope, timescales, costs, or quality. Issue management specifically deals with resolving issues that can affect the progress of the project.References: (PRINCE2® 7 Foundation Handbook, AXELOS)

The project manager should record the impact assessment for a specific business opportunity in an 'Issue Report'. This management product is used to detail particular issues that might affect the project, including opportunities (which are treated like positive risks), and provides a basis for decision-making regarding these issues.References: PRINCE2® 7 Foundation materials on issue management and related documentation.