Project Management Question Bank
for Exam preparation

Q2. An organization wishes to ensure that the opportunity arising from a risk with positive impact is realized. This organization should:

1. Exploit the risk
2. Mitigate the risk
3. Accept the risk
4. Avoid the risk

Q3. A seller entered into a contract with a buyer. At the end of the project, the seller was reimbursed for the cost of the project but received a low fee based on certain subjective criteria that were specified in the contract. What type of contract is this likely to be?

1. Cost Plus Fixed Fee (CPFF) contract
2. Fixed Price Incentive Fee (FPIF) contract
3. Cost Plus Incentive Fee (CPIF) contract
4. Cost Plus Award Fee (CPAF) contract

Q4. In addition to a project management plan, the project team must create plans for each component of the project. These plans are called:

1. Sub-plans
2. Process plans
3. Component plans
4. Management plans

Q5. You are the project manager on a project that has a total project float of negative 20. What should you do?

1. Use less experienced team members
2. Request an extension of the project due date
3. Acquire more resources for critical path activities
4. Fast track the project if overall project risk is already too high 38

Q6. A schedule performance index (SPI) of 0.76 means:

1. You are over budget
2. You are ahead of schedule
3. You are only progressing at 76 percent of the rate originally planned
4. You are only progressing at 24 percent of the rate originally planned

Q7. You are reviewing the responses to an RFP your company issued. You realize that a key requirement was not included in the RFP. However, one of the bidders included that requirement in the response. What is the best course of action?

1. Award the contract to that bidder
2. Revise and reissue the RFP
3. Select the bid that included the requirement
4. Cancel the RFP

Q8. During a weekly status meeting, a team member suggests adding a component to the project. As the project manager, you maintain that all focus should stay on the current scope and not on any enhancements. Focusing on the current scope is an example of:

1. Gold-plating
2. Scope verification
3. Scope management
4. Change control

Q9. The project has 13 team members and affects over 15 departments in the organization. Because the project is 20 percent complete to date and the team has had successful performance reports from five of the affected departments, the project manager holds a party to celebrate. The project manager invites key stakeholders from all of the departments to the party, in order to give those providing good reviews an informal opportunity to communicate good things to those departments that have not yet been affected by the project. At the party, the project manager walks around to try to discover any relevant information that would help the project be more successful. He happens to hear a manager of one of the departments talking about setting up more regular meetings on the project. The BEST thing for the project manager to do would be to FIRST:

1. Record the effectiveness of the part in the project lessons learned.
2. Review the information distribution methods on the project.
3. Hold a meeting of all the stakeholders to discuss their concerns.
4. Make sure the manager has a copy of the communications management plan so he is reminded that such concerns should be sent to the project manager.

Q10. Which of the following is NOT a stakeholder?

1. A project team member
2. An attorney from your company’s competitor
3. A representative from your project team’s union
4. The project sponsors