Project Management Question Bank
for Exam preparation

Q2. The project manager is working on a high-profile project where completing the project within budget is critical. The project manager is new, but well trained and is excited to see that the project is spending less than budgeted. As a result, the project manager was planning to take a holiday when a more senior project manager warned him that he has some important work to do on the project. Why would the senior project manager give such a warning on this project?

1. The project manager needs to create a project control system to make sure there are no problems in the future.
2. Under budget could mean that work that was scheduled to e done has not been completed. The project manager should look at how the cost performance compares to the schedule performance
3. A project that is under budget may also have contracts that need to be managed.
4. Team meetings should be scheduled every week and a holiday would mean that one team meeting would have to be cancelled.

Q3. Based on the chart, a resource on your project from the consumer affairs department comes to you to tell you that he is taking a two-week leave from work due to a family emergency. He is assigned to activity F, which is currently in progress. This is a problem because activity F has:

1. One week of float
2. Two months of float
3. One month of float
4. No float

Q4. A project is plagued by changes to the project charter. Who has the primary responsibility to decide if these changes are necessary?

1. The project manager
2. The project team
3. The sponsor
4. The stakeholders

Q5. What is present value (PV)

1. Value of assets that a company owns
2. Today’s value of future cash flows
3. Future value of money on hand today
4. Current value of today’s assets adjusted for inflation 9

Q6. What is the MAIN reason for controlling the project scope?

1. To enable scope creep
2. To prevent changes from affecting the project
3. To ensure timely closure of the project
4. Preventing scope creep

Q7. Which of the following is an enterprise environmental factor?

1. Configuration management knowledge base
2. Change control procedures
3. Historical information
4. Commercial databases

Q8. The project manager has performed schedule network analysis, compressed the schedule and completed a Monte Carlo analysis. What schedule management activity should be done NEXT?

1. Update resource requirements
2. Recommend corrective actions
3. Estimate Activity Durations
4. Create a milestone list

Q9. The cost estimates for a project are in the range of +/- 5 %. What phase is the project likely to be in?

1. Closing phase
2. Preliminary phase
3. Initial phase
4. Intermediate phase

Q10. Close Project or Phase is the process of completing and concluding all activities across all process groups to officially close the project. Which of the following activities is not performed during this process?

1. Actions required to transfer completed products to operations
2. Actions required to archive project information
3. Actions required to audit project success or failure
4. Actions required to accept the deliverables