Project Management Question Bank
for Exam preparation

Q2. At which stage in a project should the project manager begin to develop effective stakeholder engagement strategies throughout the project lifecycle?

1. Initiating
2. Executing
3. Planning
4. Monitoring and Controlling

Q3. In which of the following contract types does the seller have the most cost risk?

1. Fixed price incentive fee (FPIF)
2. Time and material (T&M)
3. Cost plus award fee (CPAF)
4. Cost plus percentage of costs (CPPC).

Q4. Projects, portfolios, and programs are different entities in an organization. Which of the following choices states a correct relationship between them?

1. A portfolio consists of a collection of projects or programs that are grouped together to achieve strategic business objectives. The projects or programs need not be directly related.
2. A project is a collection of programs and portfolios that are grouped together to achieve the project objectives.
3. A program consists of a collection of projects or portfolios that are grouped together to achieve strategic business objectives.
4. A program is a collection of projects that are grouped together for convenience. It may include unrelated work if the work is under the same business division.

Q5. A project is contracted on a Cost-Plus-Incentive-Fee (CPIF) basis. The contract states that if the final costs are less than expected costs, the sharing formula for cost savings is 80:20. The targeted cost is US$500,000 with a 10 percent fee. If the project comes in at US$450,000, what would be the total cost of the contract?

1. US$495,000
2. US$510,000
3. US$505,000
4. US$550,000

Q6. In which project management process group is the project manager likely to be more coaching?

1. Initiating
2. Planning
3. Executing
4. Monitoring and controlling.

Q7. Double declining balance is a form of:

1. Decelerated depreciation
2. Straight line depreciation
3. Accelerated depreciation
4. Life cycle costing 0

Q8. You are working as a project manager for MALTEX, an IT organization having a projectized organization structure. You have recently started managing a project that involves stakeholders from within and outside your organization. The stakeholders external to your organization are highly critical since the project negatively affects their interests. You are making serious efforts to gather their expectations and influence levels early in the project to ensure their voice is heard and proper communication needs can be planned in the project’s future phases. The outcome of your effort can be documented in:

1. The stakeholder engagement plan
2. The project scope document
3. The risk register
4. The stakeholder communication plan

Q9. Tom is managing a software development project. The buyer of the product is an external entity. During the project’s execution, Tom finds that a new operations manager was hired in the customer organization. The new manager is now a key stakeholder. Which of the following documents is least likely to be updated because of the addition of this new stakeholder?

1. Stakeholder register
2. Risk register
3. Stakeholder engagement plan
4. Issue log

Q10. Testing the entire population would:

1. Take too long
2. Provide more information than wanted
3. Be mutually exclusive
4. Show many defects.