IRGST

Home Question Bank Online Exams Job Interview Q&A Job Description How To Quotes and Sayings Articles Jobs In Mirrors Personality Types About Contact Us Sign in/up

Project Management Question Bank
for Exam preparation

Select Knowledge area

Question:

A project is contracted on a Cost-Plus-Fixed-Fee (CPFF) basis with a fee of 10 percent of estimated costs. The estimated cost is US$50,000. If the project comes in at US$75,000 with no changes in project scope, what would be the total cost of the contract?
  1. US$55,000
  2. US$125,000
  3. US$75,000
  4. US$80,000






Q2. You work in a matrix organization when a team member comes to you to admit he is having trouble with his activity. Although not yet in serious trouble, the team member admits he is uncertain of how to perform part of the work on the activity. He suggests a training class available next week. What should you do?

  1. Switch to a trained resource to avoid the cost
  2. Determine if anyone else needs training
  3. Get money from the team member’s functional department budget
  4. Get money from the project budget
Correct Answer

Q3. In projects with adaptive life cycles, the overall scope of the project will be decomposed into a set of requirements and work to be performed, sometime referred to as:

  1. Assumptions backlog
  2. Feature list
  3. Project attributes
  4. Product backlog
Correct Answer

Q4. You have been appointed manager of a project to convert multiple electronic mail systems at a major financial institution to a single platform. Your company’s approach was not the client’s first choice, and your firm was able to be the lowest cost alternative by using funds provided to your company for a different purpose. After the project is underway, the client specifies a new approach that has never been used before. When the project is approaching the originally scheduled end date, it becomes clear that the technological approach will have to be significantly altered. Although the client has been apprized of development throughout the project through regular status reports, and the project management plan has been followed, the client demands that the project be continued without any increase in cost until all of the client’s requirements are met. Your firm feels hat it has no choice but to comply with the client’s demands, although this will result in a substantial loss on the project. What was the MOST important thing that should have been done to avoid this situation?

  1. Better identification of risks and development of risk mitigation strategies
  2. Clearer project scope statement
  3. Enhanced communications management plan
  4. Formal client acceptance of the project management plan.
Correct Answer

Q5. Project reports are a method to:

  1. Plan communications.
  2. Distribute information.
  3. Report performance.
  4. Manage resources.
Correct Answer

Q6. Your company just won a major new project. It will begin in three months and is valued at US $2,000,000. You are the project manager for an existing project. What is the FIRST thing you should do upon hearing of the new project?

  1. Ask management how the new project will use resources
  2. Resource level your project
  3. Crash your project
  4. Ask management how the new project will affect your project.
Correct Answer

Q7. During the identification of risks on your project, you have determined that there is a very high probability of conflict among the team during project executing over one aspect of the final design of the project. Which of the following is an example of mitigating the impact of the risk to the project?

  1. Obtain an insurance policy for the anticipated cost of the impact.
  2. Outsource that part of the project to another company
  3. Provide the team with training on conflict resolution techniques
  4. Eliminate that part of the project.
Correct Answer

Q8. The work breakdown structure is created by:

  1. The team
  2. The project manager
  3. Management
  4. The sponsor
Correct Answer

Q9. As part of earned value management (EVM), a project manager is calculating the to-complete performance index (TCPI) based on EAC. The data he has is as follows: The budget at completion for the project is $100,000. The earned value for the project is $25,000. The actual costs to date are $40,000, and the estimate at completion is $115,000. What is the TCPI that he will get?

  1. 1.1
  2. 0.9
  3. 1
  4. 0
Correct Answer

Q10. Bill is managing a healthcare software development project using stateof- the-art technology. Stakeholder management is crucial for the project’s success. Stakeholder involvement and influence are significant. During which of the following project stages will stakeholder management be most challenging for Bill?

  1. Early during the project execution
  2. Toward the end of the project execution
  3. Toward the closure of the project
  4. Halfway through the project execution
Correct Answer










User Agreement| |Privacy Policy