Project Management Question Bank
for Exam preparation

Project Management- Q2. A project team is creating a project management plan when management asks them to identify project risks and provide some form of qualitative output as soon as possible. What should the project team provide?

1. Prioritized list of project risks
2. Risk triggers
3. Contingency reserves
4. Probability of achieving the time and cost objectives.

Project Management- Q3. The buyer asks the project manager for the status of the project that his team is working on. What is the BEST way to determine the status of a project?

1. Compare the project performance against the project baselines
2. Compare the earned value to the planned value
3. Compare the project performance against the integrated change control plan.
4. Compare the number of people used on each work package to the planned number to be used.

Project Management- Q4. To help the project team function more efficiently on complex and interrelated activities, the project manager decides to use a war room. What does this mean?

1. All the project records are kept in many locations
2. The tools needed to accomplish the work are kept in one place with easy access by the team from various locations.
3. The entire team is located in one area.
4. The project’s entire senior management team is located in one area.

Project Management- Q5. At the end of a project, a project manager determines that the project has added four areas of functionality and three areas of performance. The customer has expressed satisfaction with the project. What does this mean in terms of success of the project?

1. The project was an unqualified success.
2. The project was unsuccessful because it was gold plated.
3. The project was unsuccessful because the customer being happy means they would have paid more for the work.
4. The project was successful because the team had a chance to learn new areas of functionality and the customer was satisfied.

Project Management- Q6. A project is contracted on a Cost-Plus-Fixed-Fee (CPFF) basis with a fee of 10 percent of estimated costs. The estimated cost is US$50,000. If the project comes in at US$75,000 with no changes in project scope, what would be the total cost of the contract?

1. US$55,000
2. US$125,000
3. US$75,000
4. US$80,000

Project Management- Q7. A Work Breakdown Structure (WBS) dictionary supports the WBS and is a companion document to the WBS. Which of the following is not included in the WBS dictionary?

1. List of schedule milestones
2. Resource assigned
3. Agreement Information
4. Code of Account Identifier

Project Management- Q8. A fire has just destroyed a warehouse that was being constructed as part of a large project you are managing. What would have been the easiest way to ensure that this force majeure would not significantly impact the cost of the project?

1. Reduce the impact of such risk by transference
2. Reduce the probability that the event will take place
3. Accept the risk
4. Eliminate the threat by not building the warehouse.

Project Management- Q9. Which of the following rules should apply to international dealings on your project?

1. You have your way, I have mine
2. Do not violate any basic fundamental human rights
3. Always apply the business practices of your own country.
4. Do whatever it takes to manage the project successfully.

Project Management- Q10. Company ABC is evaluating three consulting companies to find a consultant to perform professional services. They request information on how the three consulting companies allocate fringe benefits to their clients. What type of cost is Company ABC asking about?

1. Variable
2. Fixed
3. Direct
4. Indirect.