Project Management Question Bank
for Exam preparation

Q2. At the end of a project, what will your schedule variance be equal to?

1. Zero
2. Equal to the total PV
3. One
4. Equal to the total EV

Q3. An organization wishes to ensure that the opportunity arising from a risk with positive impact is realized. This organization should:

1. Exploit the risk
2. Mitigate the risk
3. Accept the risk
4. Avoid the risk

Q4. You are a project manager for a major telecommunications network upgrade with a net present value (NPV) of US $10,000,000. You are heavily dependent on a third party vendor for your project and your contract office informs you that there is a 30 percent chance that the vendor will go out of business at the end of the quarter. If that occurs, your project will incur a US $3,000,000 cost overrun due to rework. There is also a 30 percent chance that a new legislation will pass that will decrease government oversight of your team's work. If this legislation passes, you estimate that your project will save US $1,600,000 in time delays. Lastly, your technical lead indicates that there is 20 percent chance that a new software package will be available by month end that could save US $1,800,000 in testing time. If available, the software will cost US $500,000 to procure, install and train. What is the total expected monetary value of these three risk events?

1. $60,000
2. $1,640,000
3. $5,900,000
4. $160,000 88

Q5. A change control system should be created:

1. As needed on the project
2. By management
3. As a formal documented procedure
4. By the team 4

Q6. The Monitor Stakeholder Engagement process helps you increase the effectiveness of stakeholders' engagement with your project. Which of the following is not an output of this process?

1. Change request
2. Project document update
3. Issue log
4. Stakeholder management plan

Q7. You have been hired by ABC Inc. and appointed as a project manager for their new project. The project charter has been signed and currently you are busy with preparing a detailed description of your project and the product. The description is in detail, the final requirements are identified, the product boundaries are defined, and you have outlined what is included and what is excluded. Once you complete this process, which of the following documents will you not update next?

1. Issue log
2. Stakeholder register
3. Requirements documentations
4. Requirement traceability matrix

Q8. Which of the following processes is not a part of the Project Scope Management?

1. Create WBS
2. Control Quality
3. Control Scope
4. Collect Requirements

Q9. Due to an improper cost management plan, you are over budget and a new estimate is required to complete the project. Management asks you what the new estimate for the project will be. Which of the following formulas is not used to find this new estimate?

1. BAC / CPI
2. AC + (BAC – PV)
3. AC + (BAC – EV)
4. AC + (BAC – EV) / (CPI * SPI)

Q10. Which of the following BEST describes when a project baseline should be changed?

1. When a major delay occurs
2. When an official change is made
3. When a cost increase occurs
4. Changes should never be made to the baseline