Project Management Question Bank
for Exam preparation

Q2. You are a project manager working on a multimillion-dollar project. As the project has progressed, you have become friends with the general contractor. You are working on a US $100,000 change request. She has offered to let you use her boat on the lake this weekend while she is away. What should you do?

1. Accept the offer with thanks
2. Decline the offer
3. Decline the offer and report it to your supervisor
4. Ask your boss to approve your use of the boat

Q3. All of the following are factors in the assessment of project risk EXCEPT:

1. Risk event
2. Risk probability
3. Amount at stake
4. Insurance premiums.

Q4. You receive 25 new computers from the seller, but were expecting only 20. In looking at the contract, you see that it says “sellers to provide twenty (20) computers.” What should you do FIRST?

1. Issue a change order through the contract manager
2. Return the five extra computers
3. Make payment for the 25 computers
4. Call the seller and ask for clarification

Q5. Which of the following processes belong to the planning process group?

1. Identify Stakeholders
2. Manage Stakeholder Engagement
3. Plan Stakeholder Engagement
4. Monitor Stakeholder Engagement

Q6. A project is over budget to date. Which of the following is NOT A REASON this could have occurred?

1. More work than planned was accomplished.
2. There was a cost increase from the supplier
3. Work was delayed.
4. Work was done inefficiently.

Q7. A new store development project requires the purchase of various equipment, machinery, and furniture. The department responsible for the development recently centralized its external purchasing process and standardized its new order system. In which document can these new procedures be found?

1. Project scope statement
2. WBS
3. Staffing management plan
4. Organizational policies

Q8. You have signed a contract to construct a cross-country gas pipeline. The duration of the project is 5 years. Although the scope is well defined and the duration is long, the seller is insisting you reimburse any costs which may increase due to the time factor. What kind of contract will you select in this case?

1. CPIF
2. CPAF
3. FP-EPA
4. FPIF

Q9. What is present value (PV)

1. Value of assets that a company owns
2. Today’s value of future cash flows
3. Future value of money on hand today
4. Current value of today’s assets adjusted for inflation 9

Q10. The program was planned years ago, before there was a massive introduction of new technology. While planning the next project in this program, the project manager has expanded the scope management plan because as a project becomes more complex, the level of uncertainty in the scope:

1. Remains the same.
2. Decreases
3. Decreases then increases
4. Increases.