Online Prince2-Foundation Questions Video

The 'Directing a Project' process in PRINCE2 starts when the 'Starting up a Project' process is completed. This transition is triggered by the request to initiate a project. At this point, the project has been preliminarily assessed, and a project brief and initiation documentation are ready to be developed during the 'Initiating a Project' process, pending authorization from the Project Board to proceed.References: PRINCE2® 7 Foundation handbook and official documents.

The Benefits Management Approach in PRINCE2 is a document that describes how and when a measurement of the achievement of the project's benefits, both during and after the project, can be made. It is used to assess the performance of the project's products once they are in operational use, ensuring that the project delivers the intended benefits as outlined in the Business Case. References: PRINCE2® 7 Foundation Handbook and official training materials.

The purpose of the Risk Register in PRINCE2® is to act as a central record of information relating to the identified risks for the project. It includes details about each risk such as their description, probability, impact, and countermeasures. The register helps in monitoring and controlling risks efficiently throughout the project lifecycle.References: PRINCE2® 7 Foundation handbook and documents.

A risk budget is a specific amount of money set aside within the project budget to address potential threats and opportunities. This allocation is used to fund the specific management responses required to mitigate identified risks. References: PRINCE2® Foundation Training Manual; PRINCE2® 2017 Foundation handbook.