Project Management Question Bank
for Exam preparation

Q2. A project manager is unsure of how much cost reserve to add to the project. There is a 50 percent chance of a weather delay causing an impact of US $100,000 and a 30 percent chance of a delay in the testing center with a US $20,000 impact. How much should the cost reserve be?

1. Less than $50,000
2. More than $120,000
3. Less than $20,000
4. More than $56,000

Q3. You just found out that a major subcontractor for your project consistently delivers items late. You decide to postpone dealing with the issue until you have more time. What conflict resolution method are you using?

1. Ignoring
2. Compromise
3. Smoothing
4. Withdrawal.

Q4. A scope change is made on the project. You have determined the effect on the schedule, performed integrated change control, and adjusted the project baselines and the project management plan. What is the NEXT thing to do?

1. Look for impacts to cost
2. Notify stakeholders affected by the change.
3. Submit the change to the change control board for approval
4. Change the work breakdown structure.

Q5. Which of the following CANNOT be used as a tool in the Perform Quality Control process?

1. Pareto chart
2. Sampling
3. Work breakdown structure
4. Life cycle costing

Q6. You have identified a risk that your work might be affected due to an equipment malfunction. Which of the following risk response strategies will you use to contain this risk?

1. Exploit
2. Enhance
3. Mitigate
4. None of the above

Q7. Which of the following BEST describes what a project charter may be used for when the work is being completed?

1. To make sure all the team members are rewarded
2. To help determine if a scope change should be approved
3. To assess the effectiveness of the change control system
4. To make sure that all the documentation on the project is completed

Q8. Project managers need to be aware of Student Syndrome. What does that mean?

1. People go through a learning curve whenever they are engaged in a project.
2. People who consider themselves students of project management tend to apply PMBOK principles better.
3. People start to apply themselves only at the last possible moment before the deadline.
4. People who undertake studies during their professional careers tend to be better project managers.

Q9. Once signed, a contract is legally binding unless:

1. One party is unable to perform.
2. One party is unable to finance its part of the work.
3. It is in violation of applicable law.
4. It is declared null and void by either party's legal counsel.

Q10. If you are working on a project with constantly changing scope, which type of contract would work best when hiring an outside vendor to complete a portion of the work?

1. Lump sum
2. Cost-reimbursable
3. Time and material
4. Fixed price