PRINCE2 – Foundation Exam

The Risk Register is created during the preparation of the Risk Management Strategy, which is an integral part of the project planning phase in PRINCE2. This is because the Risk Management Strategy provides the framework for how risks will be identified, assessed, and managed throughout the project lifecycle. The Risk Register serves as a central repository for all identified risks, including their descriptions, assessments, responses, and status updates.

By creating the Risk Register at this stage, the project team ensures that they have a structured means to track and manage risks proactively from the outset of the project. This timing allows for the identification of potential risks early on, enabling the team to plan appropriate risk responses and incorporate risk management into the overall project strategy.

The other options indicate different stages where risk management is relevant, but they do not reflect the correct timing for the creation of the Risk Register. For example, stating that it is created as soon as the project is authorized implies a lack of a formalized strategy in place, which is not aligned with the PRINCE2 methodology. Similarly, suggesting it is done at the end of project planning or during execution does not align with the proactive risk management approach advocated by PRINCE2, which emphasizes early identification and management of risks.