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Project Management Question Bank
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Question:

What is the difference between expected monetary value and net present value?
  1. Expected value is the estimated value of the work actually accomplished and net present value is the value of the work to be done.
  2. Expected value is the value it takes to recover your investment and net present value is the value of money.
  3. Expected value is the probability times impact of an opportunity and net present value is the benefits less costs over many time periods.
  4. Expected value is the estimated value of risk response plans and net present value helps determine the value of investments.






Q2. During the executing process group of the project, you realize the subcontractors are working with incomplete and different project scope statements. As the project manager, what should you do FIRST?

  1. Check the work completed against the correct project scope statement.
  2. Review the scope with the stakeholders.
  3. Document the inconsistencies to the sponsor, calculating the cost of non-conformance.
  4. Stop work until the scope issue is resolved.
Correct Answer

Q3. You have been hired by ABC Inc. and appointed as a project manager for their new project. The project charter has been signed and currently you are busy with preparing a detailed description of your project and the product. The description is in detail, the final requirements are identified, the product boundaries are defined, and you have outlined what is included and what is excluded. Once you complete this process, which of the following documents will you not update next?

  1. Issue log
  2. Stakeholder register
  3. Requirements documentations
  4. Requirement traceability matrix
Correct Answer

Q4. Two of your expert team members have been in a heated argument over the use of a new software product for your research project. Recently, you noticed that the argument, instead of increasing creativity, is causing conflict between the team members. To prevent the conflict from escalating, you want to resolve it by open dialogue and evaluating alternatives. All the following statements about conflict are false except:

  1. Scarce resources cannot be a source of a conflict.
  2. Conflict is inevitable in a project environment.
  3. Personal work style cannot be a source of a conflict.
  4. Reducing the amount of conflict is not desirable.
Correct Answer

Q5. All of the following are parts of the Close Project or Phase process EXCEPT:

  1. Update employee skills
  2. Record the reasons for termination
  3. Transfer information from one phase to the next phase
  4. Validate Scope
Correct Answer

Q6. Your project is very complex and due to a scope change, you need a few additional experts, which you did not think of earlier. You request that your company provide you with some experts for consultancy work. Although your company has provided you with those experts, they are located in a different geographical location. In this situation, how will you get their input?

  1. Ask management to bring them to you
  2. Recruit new members with same skills
  3. Create a virtual team
  4. None of the above
Correct Answer

Q7. The probabilistic analysis of the project is an input to which part of the risk management plan?

  1. Identify Risks
  2. Perform Qualitative Risk Analysis
  3. Perform Quantitative Risk Analysis
  4. Plan Risk Responses.
Correct Answer

Q8. A new project manager is being mentored by a more experienced certified project management professional (PMP). The new project manager is having difficult finding enough time to manage the project because the product and project scope are being progressively elaborated. The PMP mentions that the basic tools of project management, such as a work breakdown structure, can be used during project executing to assist the project manager. For which of the following can a work breakdown structure be used?

  1. Communicating with the customer
  2. Showing calendar dates for each work package
  3. Showing the functional managers for each team member
  4. Showing the business need for the project 6
Correct Answer

Q9. You are the project manager for a large installation project when you realize there are over 200 potential stakeholders on the project. Which of the following would be the BEST course of action for you to take?

  1. Eliminate some stakeholders.
  2. Find an effective way to gather the needs of all stakeholders.
  3. Contact your manager, and ask which stakeholders are most important.
  4. Gather the needs of all the most influential stakeholders.
Correct Answer

Q10. All of the following statements about workarounds are correct EXCEPT:

  1. They are unplanned responses to risks
  2. They are responses only to risk that were identified in project planning
  3. They make use of the project management plan
  4. They may result in a project change request.
Correct Answer










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