ScenarioA photographer from Portraits Ltd, a professional photographic company, has taken on the role of Team Manager after taking some time to understand the requirements of the project. A contract for their services has been set up and is being monitored by the Purchasing Manager and a Work Package has been agreed. This contract specifies that the photographer must arrange a meeting with the Engineering Manager to establish a schedule for the photo sessions to minimize the impact on the Engineering staff. This meeting should have occurred by now.The Engineering Manager was made aware of this requirement but when asked he reported that he has received no communication from the photographer. The Project Manager has tried to call the photographer and has had no response. The Project Manager believes there is a risk that Portraits Ltd are overbooking work and prioritizing other clients' work. If Portraits ltd do not deliver on schedule the project will be delayed and the expected benefits will be reduced.The contract is to be reviewed and Portraits Ltd reminded of their agreement.The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.Which 2 statements should be recorded under the Risk management procedure heading?
Answer(s): B,D
The correct answers identify key risk management process requirements: B) Probability is assessed against the scales defined in the Risk Management Strategy, ensuring consistency and alignment with the project’s risk appetite; D) Every threat and opportunity identified must be clearly defined in terms of cause, event and effect, to enable analysis and response. A is incorrect because full impact analysis is not automatically triggered for every new problem; risk management uses initial risk assessment and ongoing monitoring per the strategy. C is incorrect as there is no preset monetary threshold that excludes risks from registration. E is incorrect because “Reduce” is a valid risk response option, but the statement misstates its effect on probability/impact.
ScenarioA photographer from Portraits Ltd, a professional photographic company, has taken on the role of Team Manager after taking some time to understand the requirements of the project. A contract for their services has been set up and is being monitored by the Purchasing Manager and a Work Package has been agreed. This contract specifies that the photographer must arrange a meeting with the Engineering Manager to establish a schedule for the photo sessions to minimize the impact on the Engineering staff. This meeting should have occurred by now.The Engineering Manager was made aware of this requirement but when asked he reported that he has received no communication from the photographer. The Project Manager has tried to call the photographer and has had no response. The Project Manager believes there is a risk that Portraits Ltd are overbooking work and prioritizing other clients' work. If Portraits ltd do not deliver on schedule the project will be delayed and the expected benefits will be reduced.The contract is to be reviewed and Portraits Ltd reminded of their agreement.The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.Which 2 statements should be recorded under either the Records or Reporting headings?
Answer(s): B,C
The correct answer identifies ongoing risk assessment and control information appropriate for Records or Reporting.A) Incorrect: Project Support maintaining the Risk Register is a role/activity, but the question asks what should be recorded under Records or Reporting headings, not who maintains it.B) Correct: The evaluated net effect of all risks is summary information used for End Stage reporting; updating at end of each stage aligns with PRINCE2 governance and highlights overall risk exposure in the End Stage Report.C) Incorrect: Change budget reporting is a Change Authority activity, not a standard Records/Reporting item for risks.D) Incorrect: Imminent is a timing term for risk logging, but Records/Reporting guidance requires categorization rather than a timing label.E) Incorrect: Highlight Reports summarize project health, not a consolidated risks summary; risks are typically in the Risk Register and End Stage Report.
ScenarioA photographer from Portraits Ltd, a professional photographic company, has taken on the role of Team Manager after taking some time to understand the requirements of the project. A contract for their services has been set up and is being monitored by the Purchasing Manager and a Work Package has been agreed. This contract specifies that the photographer must arrange a meeting with the Engineering Manager to establish a schedule for the photo sessions to minimize the impact on the Engineering staff. This meeting should have occurred by now.The Engineering Manager was made aware of this requirement but when asked he reported that he has received no communication from the photographer. The Project Manager has tried to call the photographer and has had no response. The Project Manager believes there is a risk that Portraits Ltd are overbooking work and prioritizing other clients' work. If Portraits ltd do not deliver on schedule the project will be delayed and the expected benefits will be reduced.The contract is to be reviewed and Portraits Ltd reminded of their agreement.The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.Which 2 statements should be recorded under the Timing of risk management activities heading?
Answer(s): B,E
The two correct statements align with ongoing risk management timing: B ensures governance oversight of risk exposure and progress at a suitable cadence, while E confirms risk exposure is re-assessed when authorizing a stage. A is incorrect because stage 4 activity is not the defined timing for risk management within the current stage boundaries, and weekly reporting by a supplier is not a PRINCE2 risk timing requirement. C is incorrect because closing a project and updating follow-on actions pertains to benefits realisation, not the ongoing timing of risk management activities. D is incorrect because risk reporting by the Team Manager on delivering a Work Package relates to incident communication, not the formal timing of risk management activities. E) correct: re-check exposure at stage authorization. B) correct: regular Project Board review of risk and progress.
ScenarioA photographer from Portraits Ltd, a professional photographic company, has taken on the role of Team Manager after taking some time to understand the requirements of the project. A contract for their services has been set up and is being monitored by the Purchasing Manager and a Work Package has been agreed. This contract specifies that the photographer must arrange a meeting with the Engineering Manager to establish a schedule for the photo sessions to minimize the impact on the Engineering staff. This meeting should have occurred by now.The Engineering Manager was made aware of this requirement but when asked he reported that he has received no communication from the photographer. The Project Manager has tried to call the photographer and has had no response. The Project Manager believes there is a risk that Portraits Ltd are overbooking work and prioritizing other clients' work. If Portraits ltd do not deliver on schedule the project will be delayed and the expected benefits will be reduced.The contract is to be reviewed and Portraits Ltd reminded of their agreement.The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.Which 2 statements should be recorded under the Roles and responsibilities heading?
The correct statements align with Roles and responsibilities in PRINCE2 risk management: B and D.A) Incorrect: assigning a risk owner is a risk management activity, but “Roles and responsibilities” heading seeks who manages risk reporting and assurance, not necessarily ownership for every risk.B) Correct: risks exceeding the agreed risk tolerance must be escalated/report to the Project Board per risk management procedures.C) Incorrect: risk tolerances are allocated to stages by the Project Board, not the Project Manager.D) Correct: Project Assurance is responsible for ensuring risk management follows the procedure and is effective.E) Incorrect: external facilitation is not mandated by Roles and responsibilities in this context.
HOTSPOTAdditional InformationA photographer from Portraits Ltd, a professional photographic company, has taken on the role of Team Manager after taking some time to understand the requirements of the project. A contract for their services has been set up and is being monitored by the Purchasing Manager and a Work Package has been agreed. This contract specifies that the photographer must arrange a meeting with the Engineering Manager to establish a schedule for the photo sessions to minimize the impact on the Engineering staff. This meeting should have occurred by now.The Engineering Manager was made aware of this requirement but when asked he reported that he has received no communication from the photographer. The Project Manager has tried to call the photographer and has had no response. The Project Manager believes there is a risk that Portraits Ltd are overbooking work and prioritizing other clients' work. If Portraits ltd do not deliver on schedule the project will be delayed and the expected benefits will be reduced.The contract is to be reviewed and Portraits Ltd reminded of their agreement.
Answer(s): A
ScenarioA photographer from Portraits Ltd, a professional photographic company, has taken on the role of Team Manager after taking some time to understand the requirements of the project. A contract for their services has been set up and is being monitored by the Purchasing Manager and a Work Package has been agreed. This contract specifies that the photographer must arrange a meeting with the Engineering Manager to establish a schedule for the photo sessions to minimize the impact on the Engineering staff. This meeting should have occurred by now.The Engineering Manager was made aware of this requirement but when asked he reported that he has received no communication from the photographer. The Project Manager has tried to call the photographer and has had no response. The Project Manager believes there is a risk that Portraits Ltd are overbooking work and prioritizing other clients' work. If Portraits ltd do not deliver on schedule the project will be delayed and the expected benefits will be reduced.The contract is to be reviewed and Portraits Ltd reminded of their agreement.The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.Which 2 statements should be recorded under the Proximity heading?
Answer(s): C,D
The correct statements identify timing-based proximity concepts: imminent risks relate to near-term events (C) and estimation of imminent risks should be at very high impact due to near-term consequences (D).A) Incorrect — proximity categories are not presented as “Imminent; Within the stage; Within the project; Beyond the project” for this context.B) Incorrect — proximity for a risk about outsourcing experience is not a Stage 4 categorization in PRINCE2 terms.E) Incorrect — “beyond the project” proximity would apply to long-term, not near-term, threats like staff leaving in this scenario.C) Correct — imminent implies events may occur within a short horizon, affecting timing.D) Correct — imminent risks are typically assessed with high or very high impact due to near-term exposure.
ScenarioA photographer from Portraits Ltd, a professional photographic company, has taken on the role of Team Manager after taking some time to understand the requirements of the project. A contract for their services has been set up and is being monitored by the Purchasing Manager and a Work Package has been agreed. This contract specifies that the photographer must arrange a meeting with the Engineering Manager to establish a schedule for the photo sessions to minimize the impact on the Engineering staff. This meeting should have occurred by now.The Engineering Manager was made aware of this requirement but when asked he reported that he has received no communication from the photographer. The Project Manager has tried to call the photographer and has had no response. The Project Manager believes there is a risk that Portraits Ltd are overbooking work and prioritizing other clients' work. If Portraits ltd do not deliver on schedule the project will be delayed and the expected benefits will be reduced.The contract is to be reviewed and Portraits Ltd reminded of their agreement.The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.Which 2 statements should be recorded under the Risk tolerance heading?
The correct answer is B and D.B) Reflects the Project Board’s risk tolerance: they determine acceptable exposure by combining medium, high, and very high impact with high or very high probability, aligning tolerance with governance for strategic risks.D) States that fallback plan costs must be within the project’s tolerance, ensuring cost containment within defined risk responses and budgetary limits.A) Incorrect: Corporate management thresholds are not used for project risk tolerance unless delegated; thresholds at corporate level do not define project tolerance.C) Incorrect: Project Manager’s tolerance would be more specific to the project’s risk exposure, not simply low impact/probability, which is too restrictive for typical risk scenarios.E) Incorrect: Risk budget tolerance is not universally fixed at +/- 10% unless defined; this is not a generic Project risk tolerance statement.
HOTSPOTScenarioA photographer from Portraits Ltd, a professional photographic company, has taken on the role of Team Manager after taking some time to understand the requirements of the project. A contract for their services has been set up and is being monitored by the Purchasing Manager and a Work Package has been agreed. This contract specifies that the photographer must arrange a meeting with the Engineering Manager to establish a schedule for the photo sessions to minimize the impact on the Engineering staff. This meeting should have occurred by now.The Engineering Manager was made aware of this requirement but when asked he reported that he has received no communication from the photographer. The Project Manager has tried to call the photographer and has had no response. The Project Manager believes there is a risk that Portraits Ltd are overbooking work and prioritizing other clients' work. If Portraits ltd do not deliver on schedule the project will be delayed and the expected benefits will be reduced.The contract is to be reviewed and Portraits Ltd reminded of their agreement.The project is now in stage 2. The Project Manager has heard about the possibility of a competitor also producing a calendar to be delivered earlier than the target date for this project. There is a threat that the early release of a competitor's calendar may weaken the impact of the MNO Manufacturing Company calendar, thereby reducing the anticipated benefits of the Calendar project.Column 1 contains a number of risk responses identified by the Project Manager following an assessment of this risk. Column 2 contains a list of threat response types. For each risk response in Column 1, select from Column 2 the type of response it represents. Each option from Column 2 can be used once, more than once or not at all.Column 1 contains a number of possible risk responses to the above risk. For each risk response, select from Column 2 the appropriate risk threat response type that it represents. Each selection from Column 2 can be used once, more than once or not at all.
1 Accept2 Fallback3 Share4 Accept5 Fallback6 - Avoid
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