PRINCE2 – Foundation Exam Exam

Which document guides the assessment of project risks?

1. Project Plan

2. Risk Management Strategy

3. Quality Management Plan

4. Change Control Log

The correct answer is: Risk Management Strategy

The Risk Management Strategy is the document that provides guidance on how project risks will be identified, assessed, and managed throughout the project. It outlines the approach to risk management, including the roles and responsibilities of the project team in relation to risks, the methodology to be used for risk assessment, and the processes for monitoring and reviewing risks. This document ensures that there is a structured approach to addressing potential threats and opportunities that could impact the project’s objectives. By defining how risks will be managed, it sets clear expectations for risk-related activities, enabling the project team to proactively deal with risks rather than reactively responding to issues as they arise. Other documents, such as the Project Plan, focus on project execution and milestones, the Quality Management Plan pertains to maintaining quality standards in deliverables, and the Change Control Log is used for tracking changes to the project scope and ensuring that changes are managed correctly. While these documents may touch on aspects related to risk, they do not specifically guide the assessment of project risks in the same comprehensive manner as the Risk Management Strategy.