Project Management Question Bank
for Exam preparation

Q2. Management wants to be sure that the project is following defined quality standards. Which of the following should they look at?

1. Risk management plan
2. WBS
3. Statement of work
4. Quality audit

Q3. During the implementation of a contingency plan, a team member notices that the plan worked only marginally. There were three similar contingency plans developed for other risks that have not yet happened. He should recommend which of the following?

1. A workaround
2. A project change request
3. A new risk rating matrix
4. A risk responsibility chart review

Q4. What do the buyer and seller have in common with regard to Control Procurements?

1. Both parties ensure that they meet their contractual obligations and that their own legal rights are protected.
2. Both parties have specific resources that can be idle.
3. Both parties have a contract change management plan.
4. Each party has its own project plan and legal team.

Q5. A project uses rounding of activity cost estimates data to the nearest $100, uses staff hours as the unit of measure for resources, and has a variance threshold of 10 percent deviation from the baseline plan. These approaches are typically documented in the:

1. Cost management plan
2. Scope Statement
3. WBS
4. Project charter

Q6. A business is considering more than a dozen infrastructure upgrade projects. These projects, once delivered, will add to the organization’s overall performance but will not contribute to any of the revenue streams. Prior to initiating any such project, the value of the project to the organization must be determined. Which of the following is the most important factor to consider in such a scenario?

1. Net Present Value (NPV) of the projects
2. Internal Rate of Return (IRR) of the projects
3. Alignment with the strategic goals
4. Investment requirement

Q7. Three years back, your organization awarded a fixed price contract to a reputable local contractor to construct a new airport terminal in the city. A few days back, you received a change request from the contractor requesting to adjust the contract’s price. The contractor is claiming that as a result of the recent national recession, the prices of raw materials have gone up and he cannot complete the rest of the project at the contract price. Is the contactor’s request legitimate?

1. Yes, you cannot penalize the contactor for price escalations due to force majeure.
2. Yes, unless there is no Economic Price Adjustment provision in the contract.
3. No, the price of the contract is fixed and cannot be changed.
4. No, the price hike due to recession must be adjusted against the contractor’s profit.

Q8. What is the duration of the near-critical path based on the chart?

1. 33
2. 44
3. 31
4. 43

Q9. During the development of the project stakeholder engagement plan, the project manager is usually dependent on the expert judgment of senior stakeholders to identify and plan effective stakeholder management strategies. Which of the following stakeholders cannot guide the project manager in developing effective strategies for internal stakeholders?

1. Sponsor
2. Identified key stakeholders
3. Customers
4. Project team members

Q10. After a great deal of effort, the project team has finally determined the specifications for a major scope change to the project. In light of this, what should the project manager do FIRST?

1. Look for other changes
2. Notify the stakeholders about the new scope
3. Gain sign-off on this change
4. Calculate the risks associated with this change