Project Management Question Bank
for Exam preparation

Q2. You are in the process of defining policies, procedures, and guidance to help you manage the project costs. In which process you are working?

1. Determine budget
2. Develop schedule
3. Control costs
4. Plan cost management

Q3. Which of the following is a benefit of an analogous project estimate?

1. The estimate will be closer to what the work will actually require
2. It is based on a detailed understanding of what the work requires
3. It gives the project team an understanding of management’s expectations
4. It helps the project manager determine if the project will meet the schedule.

Q4. Julia is managing a water treatment plant construction project. A new government has recently been sworn in. During the election campaign, the winning candidate made a number of commitments regarding environmental control reforms. Julia is not sure how the new government and its future policies might affect her project. This is an example of:

1. Variability risk
2. Mitigated risk
3. Ambiguity risk
4. Opportunity risk

Q5. Which of the following is true about risks?

1. The risk register documents all the identified risks in detail.
2. Risk impact should be considered, but probability of occurrence is not important.
3. Risks always have negative impact and not positive.
4. Risk Response Plan is another name for Risk Management Plan.

Q6. The project charter is the document that authorizes the existence of the project and contains a great deal of important information. Which of the following options shows the correct content of a project charter?

1. Project purpose, high level requirements, assumptions and constraints, summary budget
2. High-level risk, summary milestone, project management plan, summary budget
3. Project objective, stakeholder list, WBS, project approval authority
4. Name of the sponsor, name of the project manager, schedule baseline, summary budget

Q7. A ranking of risk and a list of risks for additional analysis are all outputs of which process of risk management?

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

Q8. Which of the following is a TRUE statement about a risk rating matrix?

1. It should be changed for every product
2. It should never be used on a large project
3. It should be standardized between projects
4. It should be developed by the project manager.

Q9. Projects operating in agile environments where a high degree of uncertainty exists and where the scope is not yet fully defined, may not benefit from detailed cost calculations due to frequent changes. Instead, lightweight estimation methods can be used to generate a fast, high-level forecast of project labor costs, which can then be easily adjusted as changes arise. Detailed estimates are:

1. Reserved for short-term planning horizons in a just-in-time fashion.
2. Never developed in an agile project.
3. Only developed if the project stakeholders allow the project manager to do so.
4. Developed early during the project but are never updated due to frequent changes.

Q10. A team member notifies you, after the fact, that she has added extra functionality to the project. There was no impact on the cost or schedule. What should be done as a result of this change?

1. Inform the customer
2. Make sure marketing is aware of the change
3. Understand what functionality was added
4. Implement change control processes to track the change