A supplier might deliver a component late. Two weeks later, the supplier confirms the delivery will be late. Those statements sound similar, but the project manager's next actions are different.

The first is a potential future event to assess and manage. The second is a current matter that needs to be handled. This distinction helps you separate risk from issue when studying PRINCE2.

A risk is uncertain

A project risk involves an uncertain event or condition that could affect objectives. The potential effect could be negative or positive. For the supplier example, consider the likelihood of delay, the impact on the project plan and a proportionate response. The team might agree an alternative supplier, bring forward another task or monitor a clear warning sign.

A useful risk entry makes the situation actionable: what might happen, why, its effect, who owns the response and when it should be reviewed. Writing "supplier problem" is too vague to guide a decision.

An issue requires attention now

Once the supplier confirms the delay, the team has an actual matter to assess. What work is affected? Can the delivery be rescheduled? Does the change threaten agreed tolerances or require a decision at a higher level? The project manager needs facts about the effect on time, cost, scope and benefits before proposing a response.

A risk can become an issue, but the record and response should change as the facts change. Continuing to describe a confirmed delay only as a possibility obscures what needs to happen now.

Ask what the scenario actually says

In a Foundation question, words such as "might", "could" and "potential" can signal uncertainty. In a Practitioner scenario, go further: look for evidence that the event has happened and consider its impact on the current stage and decision-making authority. Do not choose solely on a keyword; identify whether the project is planning for a possible event or responding to a present one.

Try making two short notes from the same example. First: "Supplier may miss the date; assess likelihood and response." Second: "Supplier confirmed the date will be missed; assess impact and decide corrective action." Revising with this paired example makes the distinction easier to recall.

For a fuller view of PRINCE2's principles, practices and processes, see the ICT Exam Academy PRINCE2 Foundation course.