Project Management Question Bank
for Exam preparation

Q2. Developing alternative activity sequence is an example of:

1. Risk transfer
2. Risk aversion
3. Risk identification
4. Contingency planning

Q3. At the beginning of the project, a project manager realized that the technical expertise of the team was limited, a risk to the project. Midway through the project, the project manager decided this was no longer a risk and considered it outdated. As part of which process would he do the risk reassessment?

1. Perform Qualitative Risk Analysis
2. Perform Quantitative Risk Analysis
3. Identify Risks
4. Monitor Risks

Q4. In an underground highway construction project, the project stakeholders have suggested many changes to the project scope. You had already defined the cost baseline in your project, and you would like to revisit the baseline to see how these changes might affect the overall cost of the project. You start an impact analysis to determine the impact and inform the concerned stakeholders of all approved changes and the corresponding costs. You perform these activities in which process?

1. Control Scope
2. Monitor Risks
3. Control Costs
4. Monitor Communications

Q5. Project A has an internal rate of return (IRR) of 21 percent. Project B has an IRR of 7 percent. Project C has an IRR of 31 percent. Project D has an IRR of 19 percent. Which of these would be the BEST project?

1. Project A
2. Project
3. Project C
4. Project D 8

Q6. You have signed a contract to have a customer care support system built for your company. In this contract, you have mentioned that you will pay all costs incurred plus a monetary benefit if you are happy with the work and the contractor fulfills some conditions set in the contract. What type of contract is this?

1. Cost plus incentive fee
2. Cost plus award fee
3. Time & material
4. Fixed price incentive fee

Q7. A project is considered closed when the:

1. Client accepts the product
2. Lessons learned are completed
3. Archives are completed
4. Contract is finished

Q8. While evaluating the bar chart, the project manager determines that the project is behind schedule. What should she do?

1. Obtain approval from the customer to slip the project.
2. Report findings to management
3. Evaluate the alternatives with the team
4. Evaluate the alternatives with the customer

Q9. Which of the following risk events is MOST likely t interfere with attaining a project‘s schedule objective?

1. Delays in obtaining required approvals.
2. Substantial increases in the cost of purchased materials.
3. Contract disputes that generate claims for increased payments
4. Slippage of the planned post-implementation review meeting

Q10. A project team is worried that the integration of the components of the project will result in uncovering flaws. Instead of continuing their work, they are constantly looking for flaws to try to prevent their system from being the only one found o have flaws during integration. Quality and technical experts were called in to advise and found little possibility of errors for this project. An agreement was reached by all parties on what will be done to prevent errors. It might be BEST for the project manager to:

1. Smooth the situation
2. Compromise the situation
3. Tell the team to create quality testing plans
4. Let management know of the concern.