Project Management Question Bank
for Exam preparation

Q2. 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

Q3. Impact assessment is part of which risk management process?

1. Identify Risks
2. Perform Qualitative Risk Analysis
3. Plan Risk Responses
4. Control Risks.

Q4. Which of the following is not a tool or technique of the Control Procurements process?

1. Expert judgment
2. Advertising
3. Claims administration
4. Inspection

Q5. You see an opportunity if you complete the project ahead of time: you may get a new project. Therefore, you try to complete the project early, but due to lack of resources, you are only able to shorten the duration of a few activities by starting the parallel or partially-parallel. Which risk response strategy are you employing here?

1. Exploit
2. Mitigate
3. Enhance
4. Accept

Q6. You are a project manager for your company. Part of the project requires producing 10,000 widgets, which your company will outsource. The company has agreed to pay all related costs and 5 percent of the estimated project costs. What type of contract has been negotiated?

1. Cost-Plus-Incentive-Fee contract
2. Cost-Plus-Fixed-Fee contract
3. Time and Material contract
4. Fixed-price contract

Q7. _______________ is the authorized budget for the work scheduled to be completed on an activity or WBS component.

1. Planned Value
2. Earned Value
3. Midpoint cost
4. Interim cost

Q8. The new project is exciting to both the project manager and the team. This is the project manager’s first assignment as project manager. The team has the feeling that they will be able to complete work that has never been tried before. There are 29 people contributing to the product description and the team consists of nine highly experienced experts in their field. Part of the way through planning, three highly technical team members are disagreeing about the scope o f two of the deliverables. One is pointing to the draft WBS and saying that two additional work packages should be added. Another is saying that a particular work package should not even be done. The third team member agrees with both of them. How should the project manager BEST deal with the conflict?

1. He should listen to the differences of opinion, determine the best choice, and implement that choice.
2. He should postpone further discussions, meet with each individual, and determine the best approach.
3. He should listen to the differences of opinion, encourage logical discussions, and facilitate an agreement.
4. He should help the team focus on agreeable aspects of their opinions and build unity by using relaxation techniques and common focus team building.

Q9. Lucy is currently preparing a high-level cost estimate for her project in the initiation phase. With the limited detail available to her, what would you expect the range of her estimate to be, and what would you call such an estimate?

1. -25 to +25%, Absolute Cost
2. -5 to +10%, Narrow
3. -1 to +1%, Definitive
4. -25 to +75%, Rough Order of Magnitude

Q10. You are a project manager who was just assigned to take over a project from another project manager who is leaving the company. The previous project manager tells you that the project is on schedule, but only because he has constantly pushed the team to perform. What is the FIRST thing you should do as the new project manager?

1. Check risk status
2. Check cost performance
3. Determine a management strategy
4. Tell the team your objectives