Project Management Question Bank
for Exam preparation

Q2. You are managing a project and find you need to apply resource leveling. Which of the following tools can help you identify resources that are overallocated?

1. Resource Assignment Matrix
2. Network diagram
3. Resource Histogram
4. Resource Breakdown Structure

Q3. Define Activities, Sequence Activities, and Estimate Durations all occur before:

1. Develop Project Charter
2. Create WBS
3. Develop Schedule
4. Project development

Q4. Your company can accept one of three possible projects. Project A has a net present value (NPV) of US $30,000 and will take six years to complete. Project B has an NPV of US $60,000 and will take three years to complete. Project C has an NPV of US $90,000 and will take four years to complete. Based on this information, which project would you pick?

1. They all have the same value
2. Project A
3. Project B
4. Project C 4

Q5. Which of the following BEST describes the relationship between standard deviation and risk?

1. Nothing
2. Standard deviation tells you if the estimate is correct
3. Standard deviation tells you how unsure the estimate is.
4. Standard deviation tells you if the estimate includes a pad.

Q6. Which process is MOST responsible for managing changes to the schedule components of the Project Management Plan?

1. Control Schedule
2. Create WBS
3. Develop Project Management Plan
4. Develop Schedule

Q7. A scope change has been approved by the change control board. Which of the following MUST be impacted?

1. The early start date of the activities later in the network diagram
2. The cost of the project
3. The expected monetary value of project risks
4. The number of resources used on the project

Q8. Though it was difficult, the project manager received agreement to the project charter from all four sponsors involved on the project and the US $400,000 project was approved. Now the cost variance for the project is -$500 and the last performance review was positive. Just when the project entered its second phase, a team member on a noncritical path activity announced she was leaving the company. The float of activity L changed from two to four days. Only one unidentified risk has occurred with a minor impact. The last quality review showed that the project has made use of the results of the last design of experiments. Based on this information, what should the project manager do NEXT?

1. Complete closure of the first phase
2. Fast track the project to add more float
3. Review the management plans
4. Investigate additional risks caused by the difficulty with the senior managers.

Q9. Monte Carlo analysis is used to:

1. Simulate the order in which activities occur
2. Prove to management that extra staff is needed.
3. Get an indication of the risk involved in the project
4. Estimate an activity’s length

Q10. A project manager has been instructed to use the project charter to help identify risks on the project. This does not make sense to him. If you were asked to explain the reason the project charter is used in this way, what is the BEST explanation?

1. The project charter describes the business needs of the project
2. Reviewing what is said and not said in the project charter will help determine risks.
3. The project charter is issued by the sponsor
4. Reviewing the project charter will help determine a description of the product of the project.