Project Management Question Bank
for Exam preparation

Q2. Velvet is working for a chemical industry, and her management proposed two different projects to manufacture benzene for commercial use. After doing financial analysis, the financial advisor provided her with the following statistics about the projects: Project 1: 60 percent probability of success with a profit of $500,000 and 20 percent probability of failure with a loss of $200,000. Project 2: 30 percent probability of success with a profit of $300,000 and 30 percent probability of failure with a loss of $400,000. Based on the information above, Velvet should choose:

1. Either project 1 or project 2
2. Neither project 1 nor project 2
3. Project 2
4. Project 1

Q3. Which of the following is TRUE of inspections?

1. They may not be conducted by the project team.
2. They test future desires of prospective customers.
3. They can only be conducted on the final product.
4. They prevent defective deliverables from reaching the customer.

Q4. The technique of comparing actual or planned project practices to those of other projects to generate ideas for improvement and to provide a basis by which to measure performance is known as:

1. Workbench
2. Benchmarking
3. Quality control
4. Dependency

Q5. You are the project manager for GeoThermal Systems. Which of the following must be done FIRST before proceeding with a new project?

1. Create the Project Scope Statement
2. Stakeholder analysis
3. Product analysis
4. Obtain Project Charter approval

Q6. A project manager has been instructed to use the project charter to help identify risks on the project. This does not make sense to him. If you were asked to explain the reason the project charter is used in this way, what is the BEST explanation?

1. The project charter describes the business needs of the project
2. Reviewing what is said and not said in the project charter will help determine risks.
3. The project charter is issued by the sponsor
4. Reviewing the project charter will help determine a description of the product of the project.

Q7. Who of the following are ALWAYS stakeholders?

1. A person who does not want the project to be completed.
2. An assembly line worker that will use the product of the project
3. A functional manager from the engineering department.
4. A person who might lose his or her position in the company because of the project

Q8. You are making another international trip and have been invited to a holiday celebration; you discover that all of the subcontracted work for the project has been given to one of the team member’s brothers. What should you do?

1. Do nothing if the project is progressing on schedule.
2. Evaluate the cost of the subcontracted work.
3. Determine what the common practices are in that country.
4. Tell the team member that such actions are not allowed.

Q9. How can a project manager ensure continued active support of the project supporters and at the same time minimize negative impacts from the negative stakeholders?

1. By ensuring that stakeholders clearly understand the communication management plan
2. By ensuring that stakeholders clearly understand the stakeholder management strategy
3. By ensuring that stakeholders are kept disengaged throughout the project lifecycle
4. By ensuring that stakeholders clearly understand project goals, objectives, benefits, and risks

Q10. Calculating estimate to complete (ETC) is done during the:

1. Planning process group
2. Initiating process group
3. Executing process group
4. Monitoring and controlling process group.