Project Management Question Bank
for Exam preparation

Q2. During a discussion with the quality department, Dave, a project manager, was told that as applied to projects, the terms “prevention” and “inspection” are synonymous. However, his understanding of the terms is different. What would you comment on this situation?

1. The project manager is correct. Prevention is about keeping errors out of the process; inspection is about keeping errors out of the customer’s hands.
2. The project manager is correct. Inspection is about keeping errors out of the process; prevention is about keeping errors out of the customer’s hands.
3. The project manager is wrong. Both inspection and prevention are about keeping errors out of the customer’s hands. They are used in different contexts.
4. The project manager is wrong. Both inspection and prevention are about keeping errors out of the process. They are used in different contexts.

Q3. The project manager has worked closely with the team to come up with contingency plans. Which of the following BEST describes contingency plans?

1. Planned responses to risk events
2. Planned risk control procedures
3. Planned workarounds
4. Planned responses based on probability analysis.

Q4. The principal use of a Pareto chart is to:

1. Focus attention on the most critical issues
2. Quantify risks
3. Help predict future problems
4. Improve risk management.

Q5. Which of the following is NOT needed in order to come up with a project estimate?

1. A WBS
2. A network diagram
3. Risks
4. A change control system

Q6. 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

Q7. Which of the following BEST describes the relationship between standard deviation and risk?

1. Nothing
2. Standard deviation tells you if the estimate is correct
3. Standard deviation tells you how unsure the estimate is.
4. Standard deviation tells you if the estimate includes a pad.

Q8. Lag means:

1. The amount of time an activity can be delayed without delaying the project finish date
2. The amount of time an activity can be delayed without delaying the early start date of its successor.
3. Waiting time
4. The product of a forward and backward pass

Q9. David was required to investigate a business problem and describe the higher-level needs of the business as a whole. David’s final reports describes in detail the features, functions and characteristics of the product that will meet the business and stakeholder requirements. What is wrong with David’s report?

1. David was asked to analyze the solution requirements, but he focused on the business requirements.
2. David was asked to analyze the business requirements, but he focused on the solution requirements.
3. David was asked to analyze the functional requirements, but he focused on the non-functional requirements.
4. David was asked to analyze the non-functional requirements, but he focused on the functional requirements.

Q10. You are taking over a project and determine the following: Activity B has an early finish (EF) of day 3, a late finish (LF) of day 6, and an early start (ES) of day 2. Activity L is being done by a hard-to-get resource. The cost performance index (CPI) is 1.1 and the schedule performance index (SPI) is 0.8. Based on this information what would you be more concerned about?

1. Float
2. Resources
3. Cost
4. Schedule