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Project Management Question Bank
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Question:

While preparing your risk responses, you realize that you have not planned for unknown risk events. You need to make adjustments to the project to compensate for unknown risk events. These adjustments are based on your past project experience when unknown risk events occurred and knocked the project off track. What should you do?
  1. Include a management reserve in the budget to try to compensate for the unknown risks, and notify management to expect unknown risks to occur.
  2. Document the unknown risk items and calculate the expected monetary value based on probability and impact that may result from the occurrence.
  3. Determine the unknown risk events and the associated cost; then, add the cost to the project budget as reserves.
  4. With the stakeholders, determine a budget of the known risk budget to allocate to a management reserve budget.






Q2. Another project has had a major defect, and the project manager has gotten the project team and the process engineers involved in analyzing how this might affect their project. Which of the following would BEST describe what the group is involved in?

  1. Quality Analysis
  2. Plan Quality
  3. Manage Quality
  4. Perform Quality Control.
Correct Answer

Q3. You are an experienced project manager and have managed several data center migration projects. You are currently conducting training on the databases, spreadsheets, and management plans you will use during the lifecycle of the project. This training is a tool and technique in what process?

  1. Manage Team
  2. Acquire Resources
  3. Develop Team
  4. Control Quality
Correct Answer

Q4. The principal use of a Pareto chart is to:

  1. Focus attention on the most critical issues
  2. Quantify risks
  3. Help predict future problems
  4. Improve risk management.
Correct Answer

Q5. You have just been assigned as the project manager for a sizeable engineering project, and you want to quickly review the project project’s procedures for managing risk. What would be the MOST helpful in finding this information?

  1. A risk identification plan.
  2. A risk management plan.
  3. Environmental process assets.
  4. A risk impact matrix.
Correct Answer

Q6. Variance analysis refers to cost performance measurements used to determine the magnitude of variation in comparison to the original cost baseline. What is the trend on the percentage range of acceptable variances as the project progresses?

  1. The percentage range of acceptable variances will tend to decrease as the project progresses.
  2. The percentage range of acceptable variances will tend to increase as the project progresses.
  3. The percentage range of acceptable variances will tend to decrease first and then increase as the project progresses beyond 50 percent completion.
  4. The percentage range of acceptable variances remain the same as the project progresses.
Correct Answer

Q7. Your company is way behind schedule in the deployment of a government-mandated change to a health care processing system that must be in production by the end of the year. To meet the due date, you and your team have met and decided to hire an additional 50 programmers to work with the existing staff. This is an example of what?

  1. Resource Leveling
  2. Fast Tracking
  3. Crashing
  4. Risk Transference
Correct Answer

Q8. Gordon is currently developing his project‘s stakeholder engagement strategy. All enterprise environmental factors should be considered during this process. Which of the following enterprise environmental factors should receive particular attention during this process?

  1. Project templates
  2. Lessons learned from past similar projects
  3. Commercial databases
  4. The organization‘s culture and political climate
Correct Answer

Q9. 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.
Correct Answer

Q10. In the earned value management technique, the cost performance baseline is:

  1. Cost Measurement Baseline (CMB)
  2. Performance Measurement Baseline (PMB)
  3. Performance Base Value (PBV)
  4. Actual Baseline (AB)
Correct Answer










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