Exam PRINCE2-Foundation topic 1 question 394 discussion

A. To define the roles and responsibilities for the specified risk processes Explanation: The Risk Management Approach outlines the methodology and processes for managing risks within the project. Its primary purpose is to define the roles and responsibilities for managing risks, including how risks will be identified, assessed, and controlled throughout the project. This ensures that everyone involved knows their role in risk management and how risks will be handled.

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.