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Project Management Question Bank
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Question:

A project is contracted on a Cost-Plus-Incentive-Fee (CPIF) basis. The contract states that if the final costs are less than expected costs, the sharing formula for cost savings is 80:20. The targeted cost is US$500,000 with a 10 percent fee. If the project comes in at US$450,000, what would be the total cost of the contract?
  1. US$495,000
  2. US$510,000
  3. US$505,000
  4. US$550,000






Q2. Senior management asks the project manager how the project would be affected if two resources were removed from the project. To calculate a response, the project manager should complete:

  1. Resource leveling
  2. What-if scenario analysis
  3. Schedule compression
  4. Fast tracking
Correct Answer

Q3. All of the following are NOT parts of a project management plan EXCEPT:

  1. Baselines
  2. Milestone list
  3. Risk register
  4. Lessons learned
Correct Answer

Q4. Another project manager has a family emergency and must leave. He has asked you to fill in for him during a team meeting to discuss a minor problem with the project. He has already distributed a detailed agenda and provided with a copy. When you attend the meeting, several members of the team are making fun of the absent project manager’s ethnic heritage. Your company does not have a formal diversity policy covering such behavior. What should you do?

  1. Because your company does not have a written diversity policy, there is nothing you can do.
  2. Report the incident to the other project manager
  3. Hold the meeting as if nothing happened
  4. Begin the meeting with a discussion of diversity and professional behavior.
Correct Answer

Q5. A collection of formally documented procedures that define how project deliverables and documentation are controlled, changed, and approved is:

  1. An authorization system
  2. Project documentation
  3. A change control board
  4. A change control system
Correct Answer

Q6. Mark is managing a telecom network deployment project. The buyer of the telecom network is an external entity. Recently, the customer requested that all future project updates be posted to their information system automatically. In order to implement this, the project team needs to customize their project management information system so it can be integrated with the customer’s information system. This is a new customer requirement that was not a part of the original project’s scope. What should the project manager do?

  1. Request that the customer terminate the current contract and award a new contract.
  2. Ask the project team to customize the project management information system.
  3. Ignore the request; this is outside the project’s scope.
  4. Initiate the formal change control process.
Correct Answer

Q7. Linear programming is an example of what type of project selection criteria?

  1. Constrained optimization
  2. Comparative approach
  3. Benefit measurement
  4. Impact analysis
Correct Answer

Q8. Project stakeholder management is an integral part of project management. The effectiveness of stakeholder analysis carried out early in a project can decide its fate. Which of the following is the least important consideration during stakeholder analysis, especially when analyzing stakeholders who are also decision-makers?

  1. Prior experience
  2. Expectations
  3. Interests
  4. Influence
Correct Answer

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
Correct Answer

Q10. Which of the following is true of the Estimate Activity Durations process?

  1. Estimates should always indicate the range of possible results
  2. Estimates should be made by resource managers in order to increase the accuracy of the estimates.
  3. Historical information is too old to use in estimating
  4. Critical paths should be taken into account when an activity is first estimated.
Correct Answer










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