Project Management Question Bank
for Exam preparation

Q2. What is the difference between management reserves and contingency reserves?

1. Contingency reserves address known knowns, whereas management reserves address known unknowns.
2. Contingency and management reserves both address known unknowns and could be considered the same.
3. Contingency reserves address known unknowns whereas management reserves address unknown unknowns.
4. Contingency reserves are managed by senior management whereas management reserves are managed by the project manager.

Q3. A project’s financial management reserves are determined in which process:

1. Estimate Costs
2. Determine Budget
3. Control Costs
4. Estimate Activity Resources

Q4. A project manager is currently ensuring that the stakeholders clearly understand the project goals, objectives, benefits, and risks. This relates to which of the following processes?

1. Control Stakeholder
2. Identify Stakeholders
3. Plan Communications Management
4. Manage Stakeholder Engagement

Q5. A manager has responsibility for a project that has the support of a senior manager. From the beginning, you have disagreed with the manager as to how the project should proceed and what the deliverables should be. You and she have disagreed over many issues in the past. Your department has been tasked with providing some key work packages for the project. What should you do?

1. Provide the manager with what she needs
2. Inform your manager of your concerns to get her support
3. Sit down with the manager at the beginning of the project, attempt to describe why you object to the project, and discover a way to solve the problem
4. Ask to be removed from the project.

Q6. As the project manager of a large project, you have just completed the Estimate Costs process. As you begin the Determine Budget process, which of the following would you require as inputs to the process from the Estimate Costs process?

1. Activity cost estimates, basis of estimates
2. Activity cost estimates, activity resource estimates
3. Resource breakdown structure, agreements
4. Activity cost estimates, staff management plan

Q7. An experienced project manager was assigned a project of small scope. Which of the following could be true of the project?

1. Defining Activities, sequencing activities, estimating activity durations, and developing the schedule could be viewed as a single process.
2. Estimating activity durations may be skipped for the project.
3. Developing and Controlling the schedule could be viewed as a single process.
4. Defining Activities, estimating activity durations, developing the schedule, and controlling the schedule could be viewed as a single process.

Q8. Due to improper cost planning, your cost performance is not as planned and you are over budget. Therefore, you again estimate the cost of the project and find that you will require more money to complete the project. This will require an update of the cost baseline. What will you do?

1. Update the cost baseline
2. Raise the change request to update the cost baseline
3. Update the cost baseline and inform management
4. None of the above

Q9. Your project is nearing completion, but a previously unidentified risk has arisen, and it could significantly affect one of the project deliverables. What do you do?

1. Transfer the risk
2. Develop a risk mitigation plan
3. Include the issue in the project risk log
4. Notify the project stakeholders immediately

Q10. After conducting a bidder conference, you receive an email from one of the bidders requesting additional information. The information was neither included in your request for proposal, nor did anyone ask for it during the bidder conference. You realize the answer to this question is critical to understanding the scope of the project. If the answer is not communicated to bidders, they cannot size their teams accurately or estimate the total duration of the project. The answer also greatly affects cost. However, the answer contains some proprietary information that, if disclosed to a competitor, may reveal the future product strategy of your company. Such a disclosure could be disastrous for a major product launch you are planning next year. You decide to send the answer to all the bidders, but you realize one of the bidders is also working closely with one of your competitors on a similar project. What should you do?

1. Don’t send this information in writing; instead, telephone each bidding company.
2. Send this information to all bidders except the bidder working with your competitor.
3. Send this information to only the supplier who requested it.
4. Require all bidders to sign a nondisclosure agreement. You may then send the information to each company that signed the NDA.