Summary:
Splitting a project into distinct phases is a fundamental principle of project governance and control. It creates a structured framework for managing the project by introducing natural breakpoints. The primary reason for this structure is to allow for formal review and authorization, ensuring that the project remains viable and aligned with business objectives before further investment is committed.

Correct Option:

C. It creates a decision point for continuing the project.
This is the best and most fundamental reason. The end of a phase serves as a formal "decision gate" or "kill point." This allows the project board or sponsor to review progress, reassess the business case, and make a conscious go/no-go decision about committing resources to the next phase, thereby controlling risk and investment.

Incorrect Option:

A. For team members to reflect on their performance during a phase.
While lessons learned and reflection are valuable activities that often occur at phase ends, they are a beneficial by-product, not the primary reason for the phased structure.

B. For the project manager to take a break between phases.
This is not a valid reason for the fundamental structure of a project life cycle. The project management effort is continuous, and planning for the next phase typically begins before the current one ends.

D. In order for the plan to be updated regularly.
Plans should be updated continuously as part of monitoring and control, not just at phase boundaries. The phase end is for a major strategic review and re-baselining, not merely for routine plan updates.

Reference:
APM Body of Knowledge 7th Edition, Section 2.2 (Project Life Cycle). It states that breaking a project into phases "provides a structure for governing the progression of work," and that governance decisions are made "at the end of each stage or phase," which directly aligns with creating a decision point for continuation.

Summary:
Project risk management is a formal, structured discipline that runs throughout the project lifecycle. It is not a single technique or a set of ad-hoc actions. Its core purpose is to systematically address uncertainty to improve the likelihood of achieving project objectives. This involves dealing with both negative uncertainties (threats) and positive uncertainties (opportunities).

Correct Option:

B. A structured process to optimise project success by minimising threats and maximising opportunities.
This is the most accurate and complete definition. It captures the systematic nature of the process ("structured process"), its ultimate goal ("optimise project success"), and its balanced approach to both negative and positive risks ("minimising threats and maximising opportunities").

Incorrect Option:

A. A series of actions taken by a project team member or stakeholder to proactively avoid project threats.
This is too narrow. It describes reactive actions and focuses only on threats, completely ignoring the process for identifying, analyzing, and managing opportunities. It also misses the structured, process-driven nature of risk management.

C. A technique to decompose the project into component parts or discrete groups for programming purposes.
This describes the Work Breakdown Structure (WBS), which is a scope management tool, not a risk management process.

D. A framework that allows requirements to be defined and reviewed so that the best project approach is determined.
This describes requirements management and project definition activities, which are part of scope management, not risk management.

Reference:
APM Body of Knowledge 7th Edition, Section 3.11 (Risk Management). It defines risk management as the "systematic application of principles, approach and processes to identify and assess risks and then to plan and implement a suitable response." The purpose of these responses is to minimize threats and maximize opportunities, making option B the best definition.

Summary:
This question tests the specific definitions of key project management terms related to deliverables and success. The characteristics that determine if a product is acceptable are formally defined and agreed upon before the work begins. These are the measurable conditions that must be met for the project's output to be formally signed off and handed over to the customer or stakeholder.

Correct Option:

B. acceptance criteria.
This is the correct term. Acceptance criteria are a predefined set of conditions that a project's deliverable or product must meet to be considered complete and acceptable by the customer or sponsor. They are the specific, verifiable standards used to gain formal sign-off.

Incorrect Option:

A. product criteria.
This is not a standard project management term. It is too vague and could refer to any characteristic of a product, not necessarily the formal conditions for acceptance.

C. quality criteria.
While related, quality criteria are the specific standards and regulations that define the quality of the deliverable (e.g., it must be made of a specific material). Acceptance criteria are broader and may include quality criteria, along with other requirements like functionality, performance, and usability, to determine overall acceptability.

D. success criteria.
This term is used at the project level, not the product level. Success criteria define what constitutes a successful project (e.g., delivered on time, within budget, achieved stated benefits). Acceptance criteria are used for individual deliverables within that project.

Reference:
APM Body of Knowledge 7th Edition, Section 3.2 (Scope Management). It discusses the importance of defining acceptance criteria for deliverables to manage stakeholder expectations and gain formal approval, confirming this as the correct term for the characteristics that determine if a product meets requirements.

Summary:
This question tests the understanding of stakeholder characteristics. Stakeholders are defined by their ability to affect or be affected by the project, and they possess various attributes like influence, interest, and attitude. A key principle of stakeholder analysis is that these attributes do not always correlate; a stakeholder's level of influence is independent of their level of interest in the project's outcome.

Correct Option:

D. Stakeholders with high influence always have high interest in the project.
This is the FALSE statement. While some influential stakeholders are highly interested (e.g., the project sponsor), others may have high influence but low interest. For example, a senior finance director who must approve the budget has high influence but may have low ongoing interest in the project's daily progress. This is a critical distinction in stakeholder management.

Incorrect Option:

A. Stakeholders may be for the change or against.
This is TRUE. Stakeholders can be supporters, neutrals, or opponents of the project and the change it brings.

B. Stakeholders may have little influence or lots.
This is TRUE. Influence, or power, is a key dimension used to analyze stakeholders, ranging from low to high.

C. Stakeholders may be internal or external to your organisation.
This is TRUE. Stakeholders can be from within the organization (e.g., employees, managers) or from outside it (e.g., suppliers, regulators, customers).

Reference:
APM Body of Knowledge 7th Edition, Section 2.4 (Stakeholder Management). It describes stakeholders as having varying levels of interest and influence, which are analyzed independently on a power/interest grid. This model explicitly shows that high influence does not automatically equate to high interest.

Summary:
The project sponsor is the individual or group responsible for the project's business case and for securing its funding. They are the key link between the project and the senior management of the organization. Their responsibilities are strategic and focused on ensuring the project delivers the value and outcomes it was initiated to achieve, rather than on day-to-day management activities.

Correct Option:

C. Ensuring the benefits of the project are realised.
This is a primary and defining responsibility of the project sponsor. The sponsor is the owner of the business case and is ultimately accountable for ensuring that the project's outputs lead to the intended business benefits, both during the project and after its closure.

Incorrect Option:

A. Monitoring progress and use of the project resources.
This is a primary responsibility of the project manager. The sponsor receives progress reports from the project manager but does not perform the detailed monitoring themselves.

B. Analysing the project team's productivity.
This is an operational management task that falls under the project manager's responsibility for team leadership and performance management.

D. Planning project evaluation reviews for lessons learned.
While the sponsor has an interest in lessons learned, the planning and facilitation of these reviews are typically carried out by the project manager. The sponsor's role is to support and participate in these reviews.

Reference:
APM Body of Knowledge 7th Edition, Section 2.5 (Project Management). It describes the project sponsor as the "owner" of the project who is "responsible for achieving the benefits." This directly confirms that ensuring benefits realization is a core sponsor responsibility.

Summary:
Procurement in a project context refers to the formal, structured process of acquiring goods, services, or works from an external source. It encompasses all activities from identifying needs, through tendering and selecting suppliers, to managing contracts and ensuring delivery. It is the overarching process for obtaining external resources necessary for the project.

Correct Option:

D. The process by which products and services required for the project are acquired.
This is the most accurate and comprehensive definition. It correctly identifies procurement as a process and covers the acquisition of both products (goods) and services from external suppliers to meet project requirements.

Incorrect Option:

A. A technique to establish the best approach for obtaining the resources for the project.
This describes a Procurement Strategy, which is a planning output that determines the how of procurement. It is a component of the overall procurement process, not the definition of procurement itself.

B. A group of interrelated resources and activities that transform inputs into outputs.
This is a general definition of a process or a system. While procurement is a process, this description is too generic and does not specify the unique purpose of acquiring external products and services.

C. The description of the purpose, form and components to support delivery of a product.
This describes a Product Description or a Specification, which is a document used to define what is to be procured or delivered. It is an input to the procurement process, not the definition of procurement.

Reference:
APM Body of Knowledge 7th Edition, Section 3.10 (Procurement). It defines procurement as the "process of obtaining goods, services or works from an external source," which aligns perfectly with option D.

Summary:
Effective quality management is a comprehensive approach that covers both the project's final outputs (products/deliverables) and the processes used to create them. It ensures that the deliverables are fit for purpose and meet stakeholder requirements, while also confirming that the project work is carried out in an efficient and consistent manner, leading to predictable and successful outcomes.

Correct Option:

D. To ensure both the project outputs and the processes meet the required needs of stakeholders.
This is the most complete and accurate description of effective quality management. It encompasses:

Project Outputs: The quality of the final deliverables (Quality Control).

Processes: The effectiveness and efficiency of the methods used to create those deliverables (Quality Assurance).

Incorrect Option:

A. To ensure compliance.
While compliance with standards is a part of quality management, this definition is too narrow. It focuses only on adhering to rules and does not capture the broader goals of fitness for purpose, customer satisfaction, and process improvement.

B. To ensure quality standards are met.
This is a primary goal of quality control, but it is only one part of the overall quality management system. It focuses on the product but ignores the importance of the underlying processes.

C. To ensure the required process needs of stakeholders are met.
This describes part of quality assurance, which focuses on processes. However, it is incomplete because it neglects the quality of the final project outputs and deliverables that stakeholders ultimately receive.

Reference:
APM Body of Knowledge 7th Edition, Section 3.12 (Quality Management). It describes quality management as encompassing both quality assurance (focused on processes) and quality control (focused on outputs), with the overall aim to ensure the project meets stakeholder needs, confirming that option D is the most effective approach.

Summary:
This question tests the calculation of Total Float, which is the amount of time an activity can be delayed without delaying the project's final completion date. The calculation requires finding the critical path (the longest path through the network) and then comparing the timing of the activity in question against it. The standard formula is: Total Float = Late Finish - Early Finish or Late Start - Early Start.

Correct Option:

A. 2. This is the correct total float for activity E.
The critical path is A-B-D-F with a duration of 5 + 5 + 5 = 15.

The path going through E is A-C-E-F with a duration of 5 + 4 + 4 = 13.

The total float for activity E is the difference between the critical path duration and its path duration: 15 - 13 = 2. This means activity E can be delayed by 2 time units without affecting the project end date.

Incorrect Option:

B. 1.
This is an incorrect calculation. It might result from a miscalculation of the path durations or a misunderstanding of how float is shared along a non-critical path.

C. 0.
An activity with 0 float is on the critical path. Activity E is not on the critical path (A-B-D-F), so it must have float greater than 0.

D. 4.
This number is too high and does not correspond to the difference between the relevant path lengths in the network diagram. It may be the duration of activity E itself, not its float.

Reference:
APM Body of Knowledge 7th Edition, Section 3.6 (Scheduling). It defines total float as the "amount of time a scheduled activity can be delayed without delaying the project end date," which is calculated by analyzing the network paths as demonstrated.

Summary:
Project management is a structured discipline that exists to achieve specific, planned objectives. Its ultimate purpose is not the creation of documents or the management of processes for their own sake. Instead, these activities are all in service of a higher goal: to bring about a desired transformation or improvement that delivers value to the organization or its customers.

Correct Option:

D. effect beneficial change.
This is the fundamental purpose of project management. A project is a vehicle for moving an organization from its current state to a more desirable future state. Project management provides the framework, processes, and controls to ensure this change is achieved effectively and efficiently, delivering the intended benefits.

Incorrect Option:

A. organise management plans.
Management plans (for scope, time, cost, etc.) are essential tools used within project management to achieve control and clarity. However, they are a means to an end, not the ultimate purpose itself.

B. keep all stakeholders happy.
While managing stakeholder expectations is a critical activity, it is impossible to keep all stakeholders happy all the time, especially when their interests conflict. The purpose is to manage stakeholders to achieve the project's objectives, not to make satisfaction the primary goal.

C. control change initiatives.
This describes a key function or activity of project management (i.e., change control). However, it is a mechanism used to maintain focus and stability, not the overarching purpose. The purpose is to effect the beneficial change, and controlling it is part of how that is done.

Reference:
APM Body of Knowledge 7th Edition, Section 1.1 (What is a Project?). It defines a project as a "unique, transient endeavour, undertaken to achieve planned objectives, which could be defined in terms of outputs, outcomes or benefits." The discipline of project management is the means to achieve this, thereby effecting beneficial change.

Summary:
Risk identification is the initial and foundational step in the risk management process. Its primary goal is to create a comprehensive list of potential uncertainties that could impact the project, before any analysis is performed. The focus is on breadth and inclusivity, capturing all possible threats and opportunities, regardless of their perceived likelihood or impact at this early stage.

Correct Option:

B. identify and describe all risks that might occur on the project.
This is the correct main outcome. The purpose of the identification step is to generate a complete "risk register" by brainstorming and documenting every potential risk event in a descriptive manner. This creates the raw material for the subsequent steps of qualitative and quantitative analysis.

Incorrect Option:

A. identify and determine the relative importance of the project risks.
Determining the relative importance (prioritization) of risks is the purpose of the next step: Risk Analysis (both qualitative and quantitative). Identification simply finds the risks; analysis ranks them.

C. identify and determine the responses to the project risks.
Determining responses is the purpose of the Risk Response Planning step, which occurs after the risks have been identified and analyzed. You cannot plan a proper response until you understand a risk's priority.

D. identify and describe risks that have occurred on previous projects.
While reviewing historical information from past projects is a very useful technique for identifying risks, it is not the main outcome. The outcome is a list of risks relevant to the current project. Historical data is an input, not the output.

Reference:
APM Body of Knowledge 7th Edition, Section 3.11 (Risk Management). It describes the risk management process, stating that the first step is to "identify risks," which involves finding and describing potential threats and opportunities, resulting in a list of identified risks.

Summary:
Risk management is not a one-time activity performed only at the start of a project. It is a continuous and iterative process that runs throughout the entire project life cycle. The project environment, stakeholders, and understanding of the work are constantly evolving, which means new risks can emerge, and existing risks can change at any point from initiation to closure.

Correct Option:

D. Within each phase.
This is the correct answer. Risk identification should be an ongoing activity. It is performed at the start of the project and then revisited at the beginning of each new phase, during regular progress reviews, and when any significant change occurs. This ensures that the risk register remains current and relevant.

Incorrect Option:

A. Within the end phase.
Identifying risks at the end of the project is too late to be of any use for proactive management. The end phase is for closing activities and lessons learned.

B. Within the initial phases.
While initial phases are critical for identifying fundamental risks, stopping there would mean missing new risks that arise as the project is elaborated and executed.

C. Within the deployment phase.
This is too narrow. The deployment phase will have its own unique risks, but risk identification must also occur in all preceding and subsequent phases.

Reference:
APM Body of Knowledge 7th Edition, Section 3.11 (Risk Management). It describes risk management as an iterative process, stating that it "should be conducted regularly throughout the project life cycle." This confirms that risk identification occurs within each phase.

Summary:
The significance or priority of a risk is not determined by a single factor. A very high-impact event with a low probability could be just as significant as a high-probability event with a low impact. A standard and effective method for evaluating risk significance is to consider both of these dimensions together to understand the overall exposure the risk presents to the project.

Correct Option:

C. By assessing both its probability of occurrence and its impact on project objectives.
This is the correct and complete method. The significance of a risk is a function of its likelihood (probability) and its potential consequence (impact). This combination allows the team to calculate a risk score (e.g., Probability x Impact) and prioritize which risks require the most urgent attention and resources.

Incorrect Option:

A. By assessing its probability of occurrence.
This is incomplete. A risk with a 90% probability of occurring is not significant if its impact is negligible. Considering probability alone gives a distorted view of the risk's true importance.

B. By assessing its impact on project objectives.
This is also incomplete. A risk with a catastrophic impact is not a high priority if the chance of it happening is virtually zero. Considering impact alone would lead to focusing on unrealistic threats.

D. By assessing its effect on the business case.
While a major risk will ultimately affect the business case, this is a derivative of its impact on core project objectives like scope, time, cost, and quality. The direct way to determine significance is by assessing probability and impact on these specific objectives first.

Reference: APM Body of Knowledge 7th Edition, Section 3.11 (Risk Management). It describes risk analysis as the process to "determine the importance of identified risks," which involves "assessing the probability of occurrence and the potential impact" of each risk. This confirms that both elements are necessary.