Project Management Question Bank
for Exam preparation

Q2. The main focus of life cycle costing is to:

1. Estimate installation costs.
2. Estimate the cost of operations and maintenance.
3. Consider installation costs when planning the project costs.
4. Consider operations and maintenance in the making project decisions.

Q3. You are in the middle of your project and working on a deliverable which is 90% completed. It is time for the yearly audit. A team of auditors are about to come and verify if you are following the process as defined or not. However, as the deliverable is about to be completed, you check it and measure all dimensions to find any possible dimensional defects. What process is this?

1. Control quality
2. Manage quality
3. Plan quality management
4. Control scope

Q4. Joe is attempting to calculate the probable financial impact of some future uncertain scenarios. What method could he use?

1. Pareto analysis
2. Earned value analysis
3. Variance analysis
4. Expected monetary value analysis

Q5. A project was awarded based on a competitive proposal. Management made a commitment that a few key team members would work on the project. When such assignments happen, they are:

1. Bargaining agreements
2. Schedule constraints
3. Assignment risk
4. Pre-assignments

Q6. The cost of choosing one project and giving up another is called:

1. Fixed cost
2. Sunk cost
3. Net present value (NPV)
4. Opportunity cost 6

Q7. Which of the following activities occurs during the Plan Procurements process?

1. Make-or-buy decisions
2. Answering sellers’ questions about the bid documents
3. Advertising
4. Proposal evaluation.

Q8. You are project manager on an information technology project on which you and the sponsor have already approved the scope. An information specialist on your team, after having lunch with a low ranking customer representative working with him on a software project, learns that a simple alteration in the display would be a great addition to the project. The information specialist installs the change with no negative effect on the project schedule and at no additional cost. What action should be taken?

1. The information specialist should be recognized for exceeding customer expectations without affecting project cost or schedule.
2. The project manager should add an activity to he project management plan with no associated time.
3. The information specialist should be told that his behavior was unacceptable, as it may have negatively affected the overall project.
4. The project manager should create a change control form, and have the customer approve the change since the change has already been made.

Q9. On any project, the configuration control should be focused on the specification of:

1. Deliverables and processes
2. Scope and cost
3. Risk and resources
4. Schedule and quality

Q10. The purpose of lessons learned is to bring together any insights gained during a project that can be usefully applied on future projects. When should a project manager ideally commence this activity?

1. At the start of project planning
2. At the start of project execution
3. During the project closure
4. From project kickoff meeting