Exam PRINCE2-Foundation topic 1 question 394 discussion

The purpose of the risk management approach is to set out the processes, roles, responsibilities, and procedures for identifying, assessing, and managing risks throughout the project. It ensures that there is a structured approach to risk management and that everyone involved understands their responsibilities.

A is correct; Why the other options are less accurate: B. To maintain information on identified project threats and opportunities: This is the purpose of the risk register, not the risk management approach itself. C. To provide a baseline for monitoring completion of planned risk management activities: While the approach might include some elements of planning, its primary purpose is to define the overall framework and responsibilities. D. To advise the project board of any potential problems and risks: This is part of the ongoing risk management process, not the sole purpose of the risk management approach.

A 10.2 Risk management approach Describes how risk will be managed on the project. This includes the specific processes, procedures, techniques, standards and responsibilities to be applied.