Project Management Question Bank
for Exam preparation

Q2. The Actual Cost (AC) is the total cost actually incurred and recorded in accomplishing work performed for an activity or work breakdown structure component. What is the upper limit for the AC?

1. 50 percent over and above the Planned Value (PV)
2. The Actual Cost (AC) is limited to the Planned Value (PV).
3. 100 percent over and above the Planned Value (PV)
4. There is no upper limit for the Actual Cost (AC).

Q3. Linda has been assigned to establish a PMO in her organization. Linda believes this project cannot succeed unless all the key project stakeholders support the project. She also believes she needs to pay special attention to stakeholder management to ensure success of this project. First, she needs to develop her stakeholder register. To produce the project stakeholder register, which of the following processes must Linda start?

1. Plan Stakeholder Engagement
2. Monitor Stakeholder Engagement
3. Manage Stakeholder Engagement
4. Identify Stakeholders

Q4. A storm has damaged the manufacturing facility that is under construction as part of your project. You have just discovered that although the project risk management plan mandated that the facility have insurance against damage and loss, this policy was never acquired, and the project budget must cover the losses. Who is at fault?

1. The risk manager
2. The project manager
3. The facilities manager
4. The construction crew

Q5. A project manager is working on his first project with outside sellers. He is familiar with project change control systems but not contract change control systems. In explaining how a contract change control system differs from a project change control system, it is BEST to point out that a contract change control system:

1. Includes procedures
2. Includes trend analysis
3. Requires more sign-offs
4. Requires less documentation.

Q6. PMBOK recognizes five process groups typical of nearly all projects. Which of the following is not one of them?

1. Executing
2. Monitoring and Controlling
3. Planning
4. Pre-Inception

Q7. Two people are in the process of estimating probabilities for each of their identified risks. Which step of risk management is this?

1. Identify Risks
2. Perform Quantitative Risk Analysis
3. Plan Risk Responses
4. Control Risks.

Q8. 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

Q9. You are developing the project management plan. Management asks you to provide them with information on the chances of completing the project under different circumstances. The project is important and so management does not want to delay the schedule. You compile the data and use a tool and tell management that there is a 90% chance you can complete the project within the schedule, however, if you are given three weeks of extra time, the chance of completing project rises to 98%. Which of the following statements is true about the tool you have used to come up with this information?

1. It is a perform qualitative risk analysis process technique
2. It is a perform quantitative risk analysis process technique
3. It is a control quality process technique
4. It is a technique of the determine budget process

Q10. You are a risk manager of a project and the project manager has given you the responsibility of developing the risk management plan. So, you start collecting the risks and then you categorize them based on their impact on the project objectives. Afterward, you analyze them and develop the risk response plan for positive risks and negative risks. After developing these response plans, what will your next step be?

1. Develop the risk response plan for neutral risks
2. Update the project management plan
3. Assign the risk action owner to each risk
4. Change the critical path to reflect the risk impact