Project Management Question Bank
for Exam preparation

Q2. There are two projects to choose between: Project A with an NPV of US $45,000, or Project B with an NPV of US $85,000. What is the opportunity cost of selecting project B?

1. $45,000
2. $85,000
3. $40,000
4. $130,0000

Q3. Two team members are having a big disagreement about how to accomplish an activity. The project is low risk and is taking place in a strong matrix environment with 34 team members. To resolve this dispute, the project manager should:

1. Make the decision
2. Send the team members to their managers for advice on resolving the dispute
3. Ask for a benchmark analysis
4. Have the team member’s compromise.

Q4. A buyer and seller set the rates for junior engineers, senior engineers, architects, and other predefined roles. In what type of contract would this be applicable?

1. Fixed-price with economic price adjustment contract
2. Fixed-price incentive contract
3. Fixed-price contract
4. Time and material contract

Q5. The upper and lower control limits in a control chart indicate the:

1. Boundaries the customer will accept
2. Acceptable specifications limits.
3. Acceptable range of variation in the process
4. Statistical control points for judging the success or failure of the project.

Q6. You have been managing a research project to create genetically modified fruits using genetic engineering techniques. Since many legal issues are involved in this process, you created contingency allowances by using various quantitative analysis methods to account for cost uncertainty. You have just concluded a brainstorming session with your team in the execution phase to monitor risks that have developed in the project over the past few weeks and to establish new risk response plans. What should you do if you want to allocate more contingency reserves to account for new risks?

1. Perform the reserve analysis to compare the amount of contingency reserves remaining to the amount of risk remaining
2. Perform Monte Carlo analysis to compare the amount of contingency reserves remaining to the amount of risk remaining
3. Perform the variance and trend analysis to compare planned results to the actual results
4. Perform the quantitative risk analysis to determine the outstanding risks

Q7. You are taking over a project during the planning process group and discover that six individuals have signed the project charter. Which of the following should MOST concern you?

1. Who will be a member of the change control board
2. Spending more time on configuration management
3. Getting a single project sponsor
4. Determining the reporting structure

Q8. A project manager has just taken over the project from another project manager during the executing process group. The previous project manager created a project budget, determined communications requirements, and went on to complete work packages. What should the new project manager do NEXT?

1. Coordinate completion of work packages
2. Identify quality standards
3. Begin the Identify Risk process
4. Execute the project management plan.

Q9. A project manager can BEST resolve the differences between the requirements of one stakeholder and those of another by making which of these statements?

1. There are many points on which we agree. I am certain if we focus on them, we will find a solution.
2. Let’s look at why there is a difference of opinion on the requirements.
3. This discussion is getting too heated. Let’s regroup to solve the problem tomorrow.
4. I have made the decision to resolve the problem this way.

Q10. Which of the following is true of the Estimate Activity Durations process?

1. Estimates should always indicate the range of possible results
2. Estimates should be made by resource managers in order to increase the accuracy of the estimates.
3. Historical information is too old to use in estimating
4. Critical paths should be taken into account when an activity is first estimated.