Project Management Question Bank
for Exam preparation

Q2. What is the difference between management reserves and contingency reserves?

1. Contingency reserves address known knowns, whereas management reserves address known unknowns.
2. Contingency and management reserves both address known unknowns and could be considered the same.
3. Contingency reserves address known unknowns whereas management reserves address unknown unknowns.
4. Contingency reserves are managed by senior management whereas management reserves are managed by the project manager.

Q3. How can changes be made to a project management plan once the project manager baselines it?

1. By generating a change request and having it approved through the Perform Integrated Change Control process.
2. This is typically done by using a version control system. The project manager creates a new version with the changes and baselines it as the new baseline.
3. This is done by maintaining a revision history or log. The project manager documents the changes in detail and then baselines it.
4. A project management plan cannot be changed once it is baselined. An addendum has to be created to incorporate the changes.

Q4. A project has suffered many delays and the project manager has moved resources around, spent more time with risk management, and even fast tracked the project where possible. The project must be completed by its original agreed-to date, as resources are needed for another project at that time. The project manager is about to meet with the customer to tell them that product scope needs to be cut when you stop him. What would you advise him to do?

1. Cut quality before cutting scope
2. Move resources from a noncritical path to a critical path
3. Work overtime
4. Re-evaluate the project’s business case.

Q5. Rodney is in the process of preparing the project performance report for the team meeting. He is expecting many questions from his stakeholders on the budget and schedule. He calculates the following values: Budget at Completion (BAC) = $22,000, Earned Value (EV) = $13,000, Planned Value (PV) = $14,000, Actual cost (AC) = $15,000. What is the Estimate at Completion (EAC) for the project, if the work is performed at the budgeted rate?

1. $24,000
2. $36,000
3. $22,500
4. $37,000

Q6. You are making some changes to the scope and schedule baseline because you have identified a high-impact risk and management does not want to take a risk. What process is this?

1. Plan scope management
2. Plan risk response
3. Develop schedule
4. Control scope

Q7. Using the chart, a new activity, (R) with the duration of 5 is added to this project. Activity R has a predecessor as activity A, and a successor as activity B. How long will the project now take?

1. 49
2. 48
3. 38
4. 52

Q8. In a SWOT analysis, when you are able to convert threats into opportunities and weaknesses into strengths, it is known as:

1. Conversion strategy
2. Reverse strategy
3. FMEA analysis
4. Benefit realization

Q9. You are constructing an office building for your client. You decide to outsource painting and electric work from a third party. You create a detailed work description and ask bidders to apply for this part of the project. The document you just prepared is known as:

1. Procurement SOW
2. RFQ
3. RFP
4. Requirement document

Q10. Project stakeholders are individuals and organizations who are actively involved in the project or who have an interest in it. Which of the following is not an internal stakeholder?

1. Program Manager
2. Project Sponsor
3. Competitor
4. Project Manager