Free PRINCE2-Practitioner Exam Dumps

Question 36

- (Topic 6)
Which of the following statements is False regarding the Risk Management Strategy?

A. It captures and maintains all relevant information on identified threats and opportunities
B. It documents the risk tolerances
C. It documents the approach to risk
D. It identifies responsibilities towards risk for the project

Correct Answer:A

Question 37

- (Topic 8)
Project Scenario
Calendar Project (Note: The companies and people within the scenario are fictional.)
There has been a reduction in fie number of orders at the MNO Manufacturing Company due in part to the increased marketing activities of its competitors. To help counter this, the company has decided to create a promotional calendar for next year for all its current and prospective customers. The end product of this project will be a prepared calendar pack, ready for printing. The design of the calendar will be similar to one sent out previously, and must reflect the company image as described in the existing corporate branding standards. Another project is currently producing a new company logo when is to be printed on each page of the promotional calendar. The prepared calendar pack will consist of:
✑ Design for each month - correctly showing at public holidays and new company logo
✑ Selected photographs- 12 professionally-produced photographs, showing different
members of staff
✑ Selected paper and selected envelope - for printing and mailing the calendar
✑ Chosen label design - a competition to design a label will be held as part of this project
✑ List of customers - names and addresses of customers to whom the calendar will be sent.
The project is currently in initiation and will have two further stages:
Stage 2 will include tie activities to:
✑ Create the customer fast using information from the Accounts and Marketing departments
✑ Confirm compliance with the Data Protection Legislation
✑ Create a design for each month - this will be done by the internal creative team
✑ Select and appoint a professional photographer
✑ Gather photograph design ideas from previous project and agree photographic session schedule
✑ Prepare a production cost forecast
✑ Select paper and envelope.
Stage 3 will include the activities to:
✑ Produce and select tie professionally-taken photographs
✑ Hold the label design competition and choose the label design
✑ Assemble the prepared calendar pack.
A production cost forecast, based on the options and costs for the paper, envelope, printing and marketing of the calendar is to be produced in stage 2. However, the actual production and distribution of the calendars is not within the scope of the project. The product cost forecast will be reviewed by the Project Board to determine whether tie project should continue.
It is now 05 October and the prepared calendar pack must be delivered to the print company by 30 November, to enable printing and distribution of the calendar in time for Christmas. The cost of the activities to develop the specialist products and the cost of the project management activities are estimated to be £20,000. There is a project time tolerance of +1 week /-2 weeks and a project cost tolerance of +£6,000 / -£6,000. A change budget of £500 has been allocated but there is no risk budget.
During stage 2, if the Project Manager decides to recommend that the Project Plan is revised to finish three weeks later, which statement is correct?

A. The tolerances stated in the Project Plan CANNOT be changed.
B. The Executive needs to seek formal approval from corporate management to implement this change.
C. The current project must close prematurely and be restarted with a new Project Plan, a new Business Case and new Risk Register.
D. The revision of the Project Plan would have to wait until the end stage assessment of stage 2.

Correct Answer:B

Question 38

- (Topic 8)
Scenario:
Techniques, processes and procedures
1. Any threat that may result in a loss of MFH data must be escalated immediately.
Joint agreements
2. Work is to start at the beginning of week 2 (Stage 4).
3. The project will take two years to complete, at an estimated cost of £2.5m. Tolerances
4. None.
Constraints
5. MFH staff must not be involved in any heavy lifting during the removal of existing IT equipment.
6. Installation work must take place during MFH normal working hours. 7. +£10,000 / -£25,000.
Reporting arrangements
8. Highlight Report every Monday by 10.00 am.
9. The report must contain a summary of all products worked on during the previous week.
10. Project Manager must be notified of any issues immediately by telephone.
Problem handling and escalation
11. Impact analysis of all issues must be completed within 24 hours.
Extracts or references
12. The Stage Plan for stage 4 is available from Project Support.
Approval method
13. Project Assurance will review the completed Work Package and confirm completion.
Which 2 statements apply to either the Development Interfaces or Operations and maintenance interfaces sections?

A. Delete entry 2 because this interface will be contained in the Communication Management Strategy.
B. Delete entry 3 because this interface will be contained in the project control section of the Project Initiation Documentation.
C. Amend entry 4 to 'The transferred products relating to the services provided by the Facilities Division'.
D. Add 'Project Board, with responsibility for communicating progress to corporate management' to
E. Operations and maintenance Interfaces.
F. Add 'Facilities Team Manager, with responsibility for the transfer of services provided by the Facilities Division' to Development Interfaces.

Correct Answer:DF

Question 39

- (Topic 6)
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 Proximity heading?

A. Proximity categories for this project are: Imminent; Within the stage; Within the project; Beyond the project.
B. The risk of MFH having no outsourcing experience will be categorized as Stage 4proximity.
C. Imminent risks are those which may occur within two weeks.
D. Any risk with a proximity category of imminent will be estimated as having a very high impact.
E. The risk of staff leaving the organization will be categorized as beyond the project proximity.

Correct Answer:CD

Question 40

- (Topic 10)
Two weeks after starting work the Team Manager noticed that each completed product had exceeded its estimated effort by around 10%. If this trend continues the Work Package will exceed its agreed cost tolerance of 5%.
Which 2 actions should the Team Manager take in response to this situation?

A. Check the status of the products currently being worked on and analyze the effort expended, to determine if the trend is continuing.
B. Update the Team Plan by increasing all future work estimates by 10%.
C. Amend the Work Package and ensure that the revised targets are met.
D. Escalate the situation in the next Checkpoint Report.
E. Raise an issue that costs will exceed tolerance if the current trend continues.

Correct Answer:AE