In which step of the 'risk management technique should the organization's environment be considered?
Similar to question 397, the correct answer for considering the organization's environment in the risk management technique is during the 'Identify' step. This initial phase of risk management involves recognizing and recording risks after considering various environmental factors that can influence the project.
PRINCE2 7 Foundation guide on risk management.
Which describes a risk effect?
The risk effect in PRINCE2 describes the potential impact on project objectives if a specific threat or opportunity were to occur. This understanding is crucial in assessing the significance of the risk and determining the appropriate management response. Reference: PRINCE2 Foundation Training Manual; PRINCE2 2017 Foundation handbook.
Which process monitors work that has been assigned to a team manager?
The 'Managing Product Delivery' process in PRINCE2 is designed to monitor the work assigned to a team manager. This process ensures that the work is completed according to the specifications agreed upon in the Work Package and provides a mechanism for the team manager to report progress back to the project manager. Reference: PRINCE2 Foundation Handbook, Managing Product Delivery section.
What is an advantage of applying the 'manage by stages' principle?
One advantage of applying the 'manage by stages' principle in PRINCE2 is that the project is broken down into manageable stages, providing decision points (stage boundaries). This helps in maintaining control by providing opportunities to review and, if necessary, adjust the project's direction and ensure it does not run on in an uncontrolled manner. Reference: PRINCE2 Foundation Manual
Which is a true statement about PRINCE2 event-driven controls?
PRINCE2 defines event-driven controls as those that are triggered by the occurrence of certain events within the project lifecycle, such as the completion of a product or phase. These controls are essential for decision-making because they provide necessary information at key points, allowing project managers and the Project Board to make informed decisions about the future of the project. Reference: PRINCE2 Foundation manual, PRINCE2 official resources
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