Project Management Question Bank
for Exam preparation

Q2. To create a quality product, the project management team invested in training the project team members and purchasing high-end equipment. Such costs are:

1. Failure costs
2. Costs of Nonconformance
3. Appraisal costs
4. Prevention costs

Q3. The role of each stakeholder is determined by:

1. The stakeholder and the sponsor
2. The project manager and the sponsor
3. The team and the project manager
4. The project manager and the stakeholder.

Q4. What is present value (PV)

1. Value of assets that a company owns
2. Today’s value of future cash flows
3. Future value of money on hand today
4. Current value of today’s assets adjusted for inflation 9

Q5. You are a consulting project manager and an investment bank has a contract with you to run a large information technology project that is expected to last 15 months. During the Direct and Manage Project Work process, you discover that several regulatory requirements were addressed in the project management plan but missed from the scope statement. Failure to meet these requirements could result in legal action against the company. However, implementing the technology to comply with these regulations could exceed the budget and scope of the project and result in the cancellation of the project. What should you do?

1. Do not do anything as these requirements are not a part of the scope baseline.
2. Request additional funds to implement these requirements.
3. Submit a change request to incorporate the missed requirements in the project's scope.
4. This is a classic example of scope creep and such requirements must be ignored.

Q6. You have just returned from the weekly change control board meeting at which you presented the requested changes to the employee move project. You had five change requests approved and one request rejected. These are outputs of what process?

1. Control Quality
2. Control Scope
3. Monitor Risks
4. Perform Integrated Change Control

Q7. All of the following are true of project baselines EXCEPT:

1. They are included in the original approved project management plan.
2. They include approved scope changes
3. They are useful in detecting project variances.
4. They are useful in preparing the WBS.

Q8. A project is contracted on a Cost-Plus-Fixed-Fee (CPFF) basis. The targeted cost is US$200,000 with a fee of US$30,000. If the project comes in at US$170,000, what would be the total cost of the contract?

1. US$ 195,500
2. US$230,000
3. US$ 200,000
4. US$170,000

Q9. Based on the network diagram shown in the chart, what is the duration of the critical path?

1. 33
2. 44
3. 31
4. 36 73

Q10. Which of the following techniques is the BEST way to determine project objectives?

1. Delphi technique
2. Earned value analysis
3. Expert interviews
4. Pareto 8