Project Management Question Bank
for Exam preparation

Q2. You are a project manager for a large consulting firm. Your superior has just asked for your input on a decision about which project your company should pursue. Project A has an internal rate of return (IRR) of 12 percent. Project B has a predicted cost ratio (BCR) of 1.3. Project C has an opportunity cost of US $75,000. Project D has a payback period of six months. If you had to choose based on this data, which project would you select?

1. Project

Q3. The project is mostly complete. The project has a schedule variance of 300 and a cost variance of -900. All but one of the quality control inspections have been completed and all have met the quality requirements. All items in the issue log have been resolved. Many of the resources have been released. The sponsor is about to call a meeting to obtain product verification when the customer notifies the project manager that they want to make a major change to the scope. The project manager should:

1. Meet with the project team to determine if this change can be made.
2. Ask the customer for a description of the change
3. Explain that the change cannot be made at this point in the process
4. Inform management

Q4. Which of the following is not a project competing constraint?

1. Budget
2. Procurement
3. Risk
4. Resource

Q5. During which stage of risk planning are risks prioritized based on their relative probability and impact?

1. Perform Qualitative risk analysis
2. Identify Risks
3. Perform Quantitative risk analysis
4. Plan Risk Responses

Q6. A project has a schedule reserve of 28 days when the customer adds scope not previously planned for. The change has a 40 percent chance of delaying the project by an additional 14 days. What should be done?

1. Add more resources to the project.
2. Look for ways to cut 14 days of work from another activity.
3. Add 5.6 days to the schedule reserve.
4. Plan to add 14 days of overtime to the project.

Q7. Rodney is in the process of preparing the project performance report for the team meeting. He is expecting many questions from his stakeholders on the budget and schedule. He calculates the following values: Budget at Completion (BAC) = $22,000, Earned Value (EV) = $13,000, Planned Value (PV) = $14,000, Actual cost (AC) = $15,000. What is the Estimate at Completion (EAC) for the project, if the work is performed at the budgeted rate?

1. $24,000
2. $36,000
3. $22,500
4. $37,000

Q8. To communicate with stakeholders on the resolved issues and the issues that are hard to resolve, you use an issue log in your project. Since you assign an owner for every issue and resolve it by working on it, your stakeholders actively support all your efforts in managing the project. This method of actively resolving issues and reducing risks to the project is known as:

1. Quality management
2. Scope Management
3. Communications management
4. Stakeholder management

Q9. You are the project manager managing a project to design a print head for dot matrix printers. In order to determine ideal settings for print quality, the quality manager of the company suggests trying out various scenarios for printing by varying certain parameters on the print head. Identifying such variables which influence the product or process under development is called:

1. Benchmarking
2. Design of Experiments
3. Statistical Sampling
4. Brainstorming

Q10. Which of the following is not a tool or technique of the Control Procurements process?

1. Expert judgment
2. Advertising
3. Claims administration
4. Inspection