Project Management Question Bank
for Exam preparation

Q2. What is the LAST thing that occurs in the Close Project process?

1. Formal acceptance is received
2. Lessons learned are created
3. Financial closure is achieved
4. Resources are released

Q3. You are asked to prepare a budget for completing a project that was started last year and then shelved for six months. All the following would be included in the budget EXCEPT?

1. Fixed costs
2. Sunk costs
3. Direct costs
4. Variable costs

Q4. Lucy has recently been assigned as the project manager for a new shopping mall construction project. Since the project will span well over five years, Lucy is a bit hesitant to use the current market rates for estimating construction materials cost. The prices have been steadily increasing and the current market rates might not remain valid in the future. Which of the following techniques can Lucy apply to determine her project budget?

1. Conduct a trend analysis on the cost of materials and use that to extrapolate the cost of materials in the future.
2. Determine the cost of the project using current market rates and increase the total budget by some factor.
3. Compute the Net Present Value of the cost of materials and use that to determine the project budget.
4. Use Rolling Wave Planning to determine the budget as the project progresses.

Q5. Near the end of your last project, additional requirements were demanded by a group of stakeholders when they learned they would be affected by your project. This became a problem because you had not included the time or cost in the project management plan for these requirements. What is the BEST thing you can do to prevent such a problem on future projects?

1. Review the WBS dictionary more thoroughly, looking for incomplete descriptions.
2. Review the project charter more thoroughly, examining the business case for “holes.”
3. Do a more thorough job of procurement planning.
4. Pay more attention to stakeholder management.

Q6. All of the following are tools of Plan Quality EXCEPT:

1. A scatter diagram
2. Benchmarking
3. Cost-benefit analysis
4. Cost of quality

Q7. Anne is a project manager. She has evaluated certain responses from prospective sellers and wants to select a contract model that will transfer risk to the seller. Which of the following should she select in order to achieve this?

1. Time and Material contract
2. Cost-Plus-Fixed-Fee contract
3. Cost-Plus-Incentive-Fee contract
4. Fixed-price contract

Q8. A watch list is an output of which risk management process?

1. Plan Risk Responses
2. Perform Quantitative Risk Analysis
3. Perform Qualitative Risk Analysis
4. Plan Risk Responses.

Q9. If the optimistic estimate for an activity is 12 days, and the pessimistic estimate is 18 days, what is the standard deviation of this activity?

1. 1
2. 1.3
3. 6
4. 3

Q10. Diana is managing the development of a mobile phone application. Half the project work has been completed. Diana is currently reviewing her stakeholder engagement plan. She finds that some of the resisting stakeholders have now become supportive. How should Diana update her stakeholder engagement plan?

1. Do not update the stakeholder engagement plan at this stage since things are getting better.
2. Transfer these stakeholders to the project supporters group, and for these stakeholders, adopt the stakeholder engagement strategy defined for the project supporters.
3. For these stakeholders, continue with the defined resisting stakeholder engagement strategy since this strategy has produced positive results so far.
4. Transfer these stakeholders to the project supporters group but continue with the defined resisting stakeholder engagement strategy with these stakeholders.