Project Management Question Bank
for Exam preparation

Q2. A project is contracted on a Cost-Plus-Fixed-Fee (CPFF) basis. The targeted cost is US$200,000 with a fee of US$30,000. If the project comes in at US$170,000, what would be the total cost of the contract?

1. US$ 195,500
2. US$230,000
3. US$ 200,000
4. US$170,000

Q3. The project manager is looking at the project’s resource needs and lessons learned from past projects. This information causes the project manager to be concerned about the ability to acquire enough resources from the project in six months. Which of the following would be the LEAST effective preventive action?

1. Make sure functional managers have a copy of the resource histogram
2. Show the sponsor the data, and explain the project manager’s concern
3. Determine metrics to use as an early warning sign that resources will not be available.
4. Ask functional managers for their opinions.

Q4. In a small office construction project, the following activities are scheduled in sequence. i) Digging and pouring footings: five days. ii) Working on the slab and pouring: three days. iii) Framing the floor: five days. iv) Wall framing: four days. v) Roof framing: six days. vi) Insulation and drywall: seven days. vii) Interior doors and trim: three days. viii) Hardware and fixtures: two days. What is the minimum time to complete the project if all activities are on a critical path except activity viii, and activity iii is delayed by one day?

1. 32 days
2. 33 days
3. 34 days
4. 35 days

Q5. Which of the following helps determine the probability of completing a project on any specific day?

1. Network diagram.
2. Monte Carlo analysis.
3. Qualitative risk analysis.
4. Precision testing.

Q6. You are performing the inspection of a deliverable with your contractor to determine if the deliverable is meeting requirements. After being satisfied with the inspection, you accept the deliverable. Which process are you in?

1. Quality control
2. Validate scope
3. Close procurement
4. Procurement audit

Q7. You have been appointed manager of a project to convert multiple electronic mail systems at a major financial institution to a single platform. Your company’s approach was not the client’s first choice, and your firm was able to be the lowest cost alternative by using funds provided to your company for a different purpose. After the project is underway, the client specifies a new approach that has never been used before. When the project is approaching the originally scheduled end date, it becomes clear that the technological approach will have to be significantly altered. Although the client has been apprized of development throughout the project through regular status reports, and the project management plan has been followed, the client demands that the project be continued without any increase in cost until all of the client’s requirements are met. Your firm feels hat it has no choice but to comply with the client’s demands, although this will result in a substantial loss on the project. What was the MOST important thing that should have been done to avoid this situation?

1. Better identification of risks and development of risk mitigation strategies
2. Clearer project scope statement
3. Enhanced communications management plan
4. Formal client acceptance of the project management plan.

Q8. Another project manager in your company is having difficulty managing his project. You have found that he has not used a project charter and that is probably the cause of the problem. How can you help?

1. Provide him with a copy of an article about project charters
2. Work with his boss to get him a mentor
3. Develop a draft project charter for his use.
4. Talk to him about his project and offer help in creating a project charter.

Q9. You are a project manager for a small construction project. Your project was budgeted for US $72,000 over a six week period. As of today, you’ve spent US $22,000 of your budget to complete work that you originally expected would cost US $24,000. According to your schedule, you should have spent US $30,000 by this point. Based on these circumstances, your project could be BEST described as:

1. Under budget
2. Over budget
3. On budget
4. Not having enough information provided.

Q10. Which of the following statements correctly define the 100 percent rule for WBS?

1. The project is only considered complete once all requirements defined in the original scope statements have been completed.
2. The project is only considered complete once all requirements in the last approved scope baseline have been completed.
3. The final deliverables should fully conform to product requirements; nothing less, nothing more.
4. The total of the work at the work package level should roll up to the higher levels so that nothing is left out and no extra work is performed.