Project Management Question Bank
for Exam preparation

Q2. Based on the chart, what is the duration of a critical path?

1. 30
2. 23
3. 49
4. 46

Q3. You have a choice of four ongoing projects that you can take over as project manager. Project 1 has a benefit cost ratio (BCR) of 1.4, is a high priority project and has a critical path length of 16 months. Its cost performance index (CPI) is 1.2. Project 2 has a schedule performance index (SPI) of 1.1, is using three critical resources, has a low priority, and has a BCR of 1.1. Project 3 has a CPI of 1.2, an SPI of 0.89, a BCR of 1.6, and a critical path length of 19 months. Project 4 has a CPI of 0.82, an activity with 33 days of float, a hard-to-get resource assigned to activity L, and a priority of keeping cost low. Based on the above, which project would you prefer to take over?

1. Project 1
2. Project 2
3. Project 3
4. Project 4

Q4. If you are working on a project with constantly changing scope, which type of contract would work best when hiring an outside vendor to complete a portion of the work?

1. Lump sum
2. Cost-reimbursable
3. Time and material
4. Fixed price

Q5. You are working on a project which is under budget and ahead of schedule. The project is 85% complete, and the client comes and asks you to terminate the project because he fears a possible regulation can impact his project. You review the project parameters and find that you can complete the project before the proposed legislation comes into existence; moreover, you won’t need any extra funding. What will your next steps be?

1. Tell the client about your findings and ask him to reconsider his decision
2. Initiate the close project process
3. Immediately release your team members
4. Convince your management to discuss the issue with the client

Q6. Management has promised you part of the incentive fee from the customer if you complete the project early. While finalizing a major deliverable, your team informs you that the deliverable meets the requirements in the contract, but will not provide the functionality the customer needs. If the deliverable is late, the project will not be completed early. What action should you take?

1. Provide the deliverable as it is.
2. Inform the customer of the situation, and work out a mutually agreeable solution.
3. Start to compile a list of delays caused by the customer to prepare for negotiations.
4. Cut other activities in a way that be unnoticed to provide more time to fix the deliverable.

Q7. A project’s financial management reserves are determined in which process:

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

Q8. Your company can accept one of three possible projects. Project A has a net present value (NPV) of US $30,000 and will take six years to complete. Project B has an NPV of US $60,000 and will take three years to complete. Project C has an NPV of US $90,000 and will take four years to complete. Based on this information, which project would you pick?

1. They all have the same value
2. Project A
3. Project B
4. Project C 4

Q9. A project involved team members situated in Arizona, Nebraska, New York, and Ireland. Which of the following activities becomes crucial in such a team environment?

1. Team-building
2. Status reporting
3. Conflict resolution
4. Communication planning

Q10. You are new to project management, but you have been managing a small project successfully. Now, management has given you another project to manage, something you are excited about. However, the new project is growing exponentially every day. You have also learned that a project manager you work with managed a similar project last year. What should you do?

1. Wait to see if the scope of the project continues to grow
2. Get the project assigned to the PM who managed the similar project
3. Obtain historical records and get guidance from the project manager
4. Speak to the other project manager to develop your project plans