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Project Management Question Bank
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Question:

In which of the following contract types does the buyer have the most cost risk?
  1. Fixed price incentive fee (FPIF)
  2. Time and material (T&M)
  3. Cost plus award fee (CPAF)
  4. Cost plus percentage of costs (CPPC)






Q2. The method used in the Manage Quality process to identify the factors that may influence specific characteristics of a product under development is:

  1. The forecasting technique
  2. The control chart
  3. The statistical sampling
  4. Design for X
Correct Answer

Q3. About midway through the project, the project manager learns that most members of the project team are not reviewing the weekly project updates. What should the project manager do?

  1. Create a signature log so team members can indicate when they have read the project updates.
  2. Revise the communications management plan appropriately to meet the informational needs of the stakeholders.
  3. Improve the layout of the weekly project updates to encourage reading by team members.
  4. Require the reading of the project updates in order to receive any rewards on the project.
Correct Answer

Q4. What does a resource histogram show that a responsibility assignment matrix does not?

  1. Time
  2. Activities
  3. Interrelationships
  4. The person in charge of each activity
Correct Answer

Q5. When is it BEST to perform the Close Project or Phase process?

  1. At the beginning of the project with verification throughout the project.
  2. At the end of project planning
  3. During project closure
  4. At the end of each project phase
Correct Answer

Q6. All of the following come after the Define Scope process EXCEPT:

  1. Estimate Activity Durations
  2. Develop Human Resource Plan
  3. Estimate Costs
  4. Collect Requirements
Correct Answer

Q7. The Requirements Traceability Matrix helps in tracing all the following except:

  1. Requirements to project objectives
  2. Requirements to project scope
  3. Requirements to test strategy
  4. Requirements to project risk
Correct Answer

Q8. All of the following are used in quality management EXCEPT:

  1. Marginal analysis
  2. Selected sellers
  3. Standard deviation
  4. The Delphi technique.
Correct Answer

Q9. Purchasing insurance is BEST considered an example of risk:

  1. Mitigation
  2. Transfer
  3. Acceptance
  4. Avoidance.
Correct Answer

Q10. Mark is in the middle of a software development project. So far, the project has incurred a total cost of $50,000. If it is determined the project is no longer required, what would we call the cost incurred to date?

  1. Opportunity cost
  2. Return on investment
  3. Breakeven cost
  4. Sunk cost
Correct Answer










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