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PRINCE2 7 Practitioner (7th Edition) Exam

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Total Questions : 263

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Question # 41

Scenario

A 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?

Options:

A.  

Project Support will maintain the Risk Register.

B.  

The evaluated net effect of all risks will be updated at the end of each stage and included in the End Stage Report.

C.  

The Change Authority will report monthly to the Project Manager on the status of the change budget.

D.  

Risks that are likely to occur within the next two weeks should be recorded as imminent.

E.  

A summary of risks will be maintained and included with the monthly Highlight Reports to the Project Board.

Discussion 0
Question # 42

Scenario

A 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?

Options:

A.  

Corporate management's threshold level of risk exposure is any combination of high and very high impact and probability.

B.  

The Project Board's threshold level of risk exposure is any combination of medium, high and very high impact, with high and very high probability.

C.  

The Project Manager's threshold level of risk exposure is low impact and probability.

D.  

The cost of all fallback plans must be contained within the project's tolerance.

E.  

The risk budget will have a tolerance of +/~ 10%.

Discussion 0
Question # 43

Scenario

A 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?

Options:

A.  

When a new problem arises, a full impact analysis will be undertaken to assess the impact on the project' objectives and Business Case.

B.  

Probability will be assessed against the scales defined in this Risk Management Strategy.

C.  

Any risk which has an expected value of more than £1 k will NOT be registered.

D.  

Every threat and opportunity identified must be clearly defined in terms of cause, event and effect.

E.  

'Reduce' Response actions which result in a lower impact and/or probability rating.

Discussion 0
Question # 44

When updating the project plan as part of Managing a stage boundary, what else might be updated?

Options:

A.  

Exception Plan

B.  

Project Management team

C.  

Business Case

D.  

Project Initiation Documentation

Discussion 0
Question # 45

The Calendar project was delivered as originally planned, and Is now preparing for planned closure.

Lines 1 to 6 in the table below consist of an assertion statement and a reason statement. For each line identify the appropriate option, from options A to E, that applies. Each option can be used once, more than once or not at all.

Question # 45

Options:

Discussion 0
Question # 46

The Manage by Exception principle sets tolerances for six areas of the project, Time. Cost and Quality are three of them, what are the other three?

Options:

A.  

Scope, People & Resources, Benefit

B.  

Scope, Risk, Product

C.  

Risk, Benefit, Product

D.  

Scope, Risk, Benefit

Discussion 0
Question # 47

Scenario

A 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?

Options:

A.  

During stage 4, the selected service provider will manage any risks to their Business Case and report these to the Project Manager on a weekly basis.

B.  

The Project Board should hold monthly meetings to review project progress.

C.  

When closing a project, the follow-on action recommendations should be updated with any risks relating to the realization of benefits after the outsourced services go live.

D.  

Any new risks identified during product development should be reported to the Project Manager by the Team Manager when delivering the completed Work Package.

E.  

When authorizing a stage, the Project Board will check that the exposure to risk is still acceptable.

Discussion 0
Question # 48

Which of the following management products ARE updated as part of Managing a stage boundary?

1. Business Case

2. Benefits Review Plan

3. Configuration Item Records

4. Project Brief

Options:

A.  

1, 2, 3

B.  

1, 3, 4

C.  

1, 2, 4

D.  

2, 3, 4

Discussion 0
Question # 49

Which of the following is NOT a trigger for the project manager to authorize a work package?

Options:

A.  

Stage Authorization

B.  

Corrective Action

C.  

Exception plan approved

D.  

Reporting highlights

Discussion 0
Question # 50

It is now late October and the project is in stage 3. The label design competition has been held and the photos of the staff have been taken. The CEO and Marketing Director still need to choose the winning label design and the 12 photos for the calendar. However, the Executive has learned that two competitors are issuing calendars to MNO's customers by the middle of November. After analyzing the impact of this Issue, one of the options the Project Manager has presented to the Project Board is to close the project prematurely.

There are a number of key facts relating to this project that would need to be recorded if the project Y-e to be closed now.

Which product should show that the photos could be used for other promotional material for the company?

Options:

A.  

Benefits Review Plan

B.  

Lessons Log

C.  

Exception Report

D.  

End Project Report

Discussion 0
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