Project Management Question Bank
for Exam preparation

Q2. An issue has arisen which forces you to schedule a meeting with your stakeholders. A project team member tells you that one of your influential stakeholders may not come to the meeting because of a personal issue. You choose not to take any action because you think that you will manage without the presence of this stakeholder. What kind of risk response strategy are you using here?

1. Accept
2. Avoid
3. Neglect
4. Mitigate

Q3. During the Control Procurements process, a number of documents might get updated due to various reasons. Which of the following components of the project management plan is least likely to get updated during this process?

1. Quality management plan
2. Procurement management plan
3. Schedule baseline
4. Cost baseline

Q4. You are a project manager on a US $5,000,000 software development project. While working with your project team to develop a network diagram, your data architects suggest that quality could be improved if the data model is approved by senior management before moving on to other design elements. They support this suggestion with an article from a leading software development project. While working with your project team to develop a network diagram, your data architects suggest that quality could be improved if the data model is approved by senior management before moving on to other design elements. They support this suggestion with an article from a leading software development journal. Which of the following BEST describes what this type of input is called?

1. Mandatory dependency
2. Discretionary dependency
3. External dependency
4. Heuristic 33

Q5. The probability and impact matrix helps you rank risks so you can develop your risk management plan accordingly. Which statement is true about the probability and impact matrix?

1. It includes high-grade risks with its impact
2. It includes low-grade risks with its impact
3. Here the definition of probability and impact is decided
4. A grid showing probability and impact of the risk

Q6. You have just been assisted as project manager for a large manufacturing project. This one-year project is about halfway done. It involves five different sellers and 20 members of your company on the project team. You want to quickly review where the project now stands. Which of the following reports would be the MOST helpful in finding such information?

1. Work status
2. Progress
3. Forecast
4. Communications

Q7. 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

Q8. Your project is running late and you are over budget. You review the situation and find that it would be difficult for you to complete the project with the given budget. You inform management and they ask you to come up with a new budget. After estimating the new cost, you inform management that you may need 10,000 USD more to complete the project. This is an example of:

1. Forecast analysis
2. Status report
3. Change request
4. Progress report

Q9. A project may be selected based on all of the following EXCEPT:

1. Benefit measurement
2. Net present value (NPV)
3. The number of resources used
4. Value analysis

Q10. Project Team A has been hired to manage a transportation project very similar to dozens of projects the team has managed successfully in the past. The team has determined that the probability of achieving project objectives is 94 percent. What part of the risk process is the team in?

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