Exin PRINCE2 Foundation Set 6

1.

Identify the missing words in the following sentence. The role of [ ? ] is responsible for carrying out a risk response action to respond to a particular risk.

Project Assurance Project Support the risk actionee the risk owner

2.

Which is a purpose of the Risk theme?

Establish a method for the implementation of continuous improvement during the project Identify, assess and control problems that have occurred Provide the Project Board with a time-driven control to capture all project risks Establish a cost-effective procedure to identify, assess and control risks

3.

Which document should record the agreed amount of risk budget for a project?

Project Brief Project Plan Risk Management Strategy Risk Register

4.

Which statement describes the 'Implement' step within the recommended risk management procedure?

Take planned action to respond to a risk Implement the responsibilities for risks defined in the Risk Management Strategy Assess the proximity of a risk Identify the level of risks that can be tolerated by the project

5.

Which is a purpose of the Risk theme?

Establish a procedure to ensure every change is agreed by the relevant authority before it takes place Establish a cost-effective procedure to identify, assess and control uncertainty Establish mechanisms to control any unacceptable deviations from plan Establish mechanisms to manage risks at the corporate or programme level of an organization

6.

Identify the missing words in the following sentence. A risk budget is a sum of money included in the [ ? ] and set aside to fund specific management responses to a project's threats and opportunities.

change budget project budget project's cost tolerance project's risk tolerance

7.

Which of the following refers to the actions identified to bring a situation to a level where exposure to a risk is acceptable?

Risk category Risk description Risk response Risk status

8.

Which describes a risk effect?

The uncertainty expressed as a negative or favourable occurrence The issue which is affecting the project and has resulted in a risk The impact(s) on the project objectives should the threat or opportunity occur The change in the status of a risk in response to actions taken to control it

9.

Which describes risk probability?

Level of risks which the project can tolerate before escalating to the Project Board Probable effect on the project delivering its objectives Timeframe within which the risk may occur A measure of the likelihood of the risk occurring

10.

Which is a purpose of a Risk Register?

Capture risks that may occur during the project Record how risk management activities will be undertaken on the project Record the risk tolerance for the project Capture issues which are impacting on the delivery of the project objectives

Exin PRINCE2 Foundation Set 6

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Exin PRINCE2 Foundation Set 6

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