Project Management Question Bank
for Exam preparation

Q2. You have signed a contract with the client to provide manpower for 50 USD/hour. Moreover, you will also be reimbursed for any costs incurred, along with a fixed fee of 25,000 USD. What kind of contract is this?

1. FPIF
2. T&M
3. CPAF
4. CPIF

Q3. You are a project manager for the construction of a major new manufacturing plant that has never been done before. The project cost is estimated at US $30,000,000 and will make use of three sellers. Once begun, the project cannot be cancelled, as there will be a large expenditure on plant and equipment. As the project manager, it would be MOST important to carefully:

1. Review all cost proposals from the sellers.
2. Examine the budget reserves.
3. Complete the project charter.
4. Perform an identification of risks.

Q4. Validate scope is the process which helps increase the chances that the client will accept the deliverable. Here, the client reviews the verified deliverable from the control quality process. Which of the following statements is true about validate scope process?

1. You complete this process with the client
2. You and your team members complete the process
3. It is performed by QA / QC personal
4. None of the above

Q5. You are the project manager for a new international project, and your project team includes people from four countries. Most of the team members have not worked on similar projects before, but the project has strong support from senior management. What is the BEST thing to do to ensure that cultural differences do not interfere with the project?

1. Spend a little more time creating the work breakdown structure and making sure it is complete
2. As the project manager, make sure you choose your words carefully whenever you communicate
3. Ask one person at each team meeting to describe something unique about their culture.
4. Carefully encode all the project manager’s communications.

Q6. You are in the define scope process and defining the detailed scope of the product and the project. This process helps you define the description of product, service or result and define boundaries and tells you about requirement inclusion and exclusion. Which of the following is not an outcome once the process ends?

1. Acceptance criteria
2. Project exclusions
3. Risk register update
4. Stakeholder register update

Q7. While rating a proposal, one of the requirements was: "The proposed project manager needs to be a certified Project Management Professional, PMP®" This is an example of:

1. Constraints
2. Source Selection Criteria
3. Assumptions
4. Good practice

Q8. You want to buy a cell phone and you have two options. The first phone is cheaper and offers less functionality, but it has a proven track record of good stability and reliability. The second phone is a feature rich, costly phone but it has some stability and reliability issues. Which of the following statements is correct about these phones?

1. The first cell phone is a low grade, high-quality phone
2. The second cell phone is a low grade, high-quality phone
3. The first cell phone is a high grade, low-quality phone
4. The second cell phone is a high grade, high-quality phone

Q9. If Project A has a net present value (NPV) of US $30,000 and project B has an NPV of US $50,000, what is the opportunity cost if project B is selected?

1. $23,000
2. $30,000
3. $20,000
4. $50,000

Q10. Which of the following is not a true statement about control charts?

1. Control charts can be used to establish, as well as maintain process control.
2. Control charts are used to determine acceptance limits when no limits when no limits are stipulated by th eproduct specification; otherwise, one should use the limits dictated by the specification.
3. All data points outside the control chart limits are variations explained by assignable causes.
4. B and C.