Project Management Question Bank
for Exam preparation

Project Management- Q2. A project involves arranging for the closing of the company office where the team works and relocating everyone to a new city. The BEST thing the project manager can do is:

1. Spend time carefully creating the work breakdown structure.
2. Have a strong quality control plan.
3. Decrease the fringe benefits
4. Carefully consider the reward system for the project.

Project Management- Q3. A project employs a virtual team with team members located in different offices in the same city as well as across different cities. The project manager wishes to build trust and good working relationships. One of the best ways to do this is:

1. To use team-building strategies
2. Write a memo to the team detailing the need for good working relationships
3. Plan for job-rotation on a weekly basis
4. To encourage the use of telephonic conversations as much as possible

Project Management- Q4. The project charter is the document that authorizes the existence of the project and contains a great deal of important information. Which of the following options shows the correct content of a project charter?

1. Project purpose, high level requirements, assumptions and constraints, summary budget
2. High-level risk, summary milestone, project management plan, summary budget
3. Project objective, stakeholder list, WBS, project approval authority
4. Name of the sponsor, name of the project manager, schedule baseline, summary budget

Project Management- Q5. You are busy with an important milestone, and after that, you have to deliver a deliverable to the client. Since the client is known for his difficult behavior, management is worried whether the client will accept the deliverable. Therefore, they tell you to check the product acceptance criteria again before calling the client. What document will you look at to get this information?

1. WBS
2. WBS dictionary
3. Project scope statement
4. RACI matrix

Project Management- Q6. During the conceptual phase of a pipeline project, the project engineer estimates the following. The cost of the materials is most likely US $100,000, optimistically US $90,000, and pessimistically US $120,000. The cost for labor is most likely US $ 80,000, optimistically US $70,000, and pessimistically US $100,000. The cost for equipment is most likely US $60,000, optimistically US $50,000, and pessimistically US $70,000. The cost for construction management fees is most likely US $30,000, optimistically US $20,000, and pessimistically US $40,000. What is the probability of the project coming in under US $270,000?

1. Zero
2. Less than 50 percent
3. Exactly 50 percent
4. Over 50 percent

Project Management- Q7. In a SWOT analysis, when you are able to convert threats into opportunities and weaknesses into strengths, it is known as:

1. Conversion strategy
2. Reverse strategy
3. FMEA analysis
4. Benefit realization

Project Management- Q8. All of the following are factors in the assessment of project risk EXCEPT:

1. Risk event
2. Risk probability
3. Amount at stake
4. Insurance premiums.

Project Management- Q9. All of the following are relevant for analyzing a cost overrun, EXCEPT:

1. Labor rates
2. Resources used
3. Communications management plan
4. Lag

Project Management- Q10. A project manager has just completed subjectively evaluating risks on the project. Which of the following is the MOST important output of this process?

1. Decrease in the risk ranking for the project
2. A determination of which risks to process further and which to simply document
3. Probabilistic analysis of the project and identification of risk triggers
4. Probability of achieving cost objectives.