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Project Management Question Bank
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Question:

Cost performance measurement is BEST done through which of the following?
  1. Asking for a percent complete form each team member and reporting that in the monthly progress report
  2. Calculating earned value and using the indexes and other calculations to report past performance and forecast future performance
  3. Using the 50/50 rule and making sure the life cycle cost is less than the project cost
  4. Focusing on the amount expended last month and what will be expended the following month






Q2. In the create WBS process, you sub-divide project deliverables and project work into smaller and more manageable components. The output of this process is the scope baseline and project document update. Which of the following truly represents the scope baseline?

  1. Scope statement, scope management plan, schedule baseline
  2. Scope statement, WBS, WBS dictionary
  3. WBS, WBS dictionary
  4. Scope statement, WBS, schedule baseline
Correct Answer

Q3. Impact assessment is part of which risk management process?

  1. Identify Risks
  2. Perform Qualitative Risk Analysis
  3. Plan Risk Responses
  4. Control Risks.
Correct Answer

Q4. A responsibility assignment matrix shows all of the following EXCEPT:

  1. Time.
  2. Resources
  3. Names.
  4. Work packages
Correct Answer

Q5. As a result of your analysis of the risks on the project, you have decided to remove a team member from the project team in order to decrease the overall project risk. What is this an example of?

  1. Transference
  2. Resource analysis
  3. Avoidance
  4. Acceptance
Correct Answer

Q6. A manager asked to see a list of milestones in the project. This would be available as an output from the:

  1. Sequence Activities process
  2. Define Scope process
  3. Estimate Activity Durations process
  4. Define Activities process
Correct Answer

Q7. You have signed a multi-year contract with a customer to complete a project for a fixed price. Since the duration of the contract is long, you have added a provision to adjust the price of the contract according to the market inflation. What kind of contract is this?

  1. FPIF
  2. FP-EPA
  3. Time and material
  4. CPIF
Correct Answer

Q8. The scope of work in a project could not be clearly defined. There was also a strong possibility that the scope would change during the course of the project. Which type of contract would suit this type of situation?

  1. Fixed-price with economic price adjustment contract
  2. Fixed-price contract
  3. Cost-reimbursable contract
  4. Fixed-price incentive contract
Correct Answer

Q9. You are the Project Manager for JT's Lumber Yard. You are trying to forecast estimates for the final phase of the project you are currently working on. Based on the performance of the project to date, which formula can be used to estimate the total value of the project when completed, assuming similar variances will not occur?

  1. ETC = (BAC - EV)/CPI
  2. SV = EV - PV
  3. CPI = EV/AC
  4. EAC = AC + BAC - EV
Correct Answer

Q10. When should the Validate Scope process be done?

  1. At the end of the project
  2. At the beginning of the project
  3. At the end of the each phase of the project
  4. During the planning processes
Correct Answer








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