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Project Management Question Bank
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Question:

If earned value (EV) = 35o, actual cost (AC) = 400, planned value ((PV) = 325, what is the cost variance (CV)?
  1. 350
  2. -75
  3. 400
  4. -50






Q2. Robert wants to assign a risk owner for every project risk for which a risk response action is planned. Where must he update this information?

  1. Resource management plan
  2. Risk register
  3. Stakeholder register
  4. Project charter
Correct Answer

Q3. Which of the following is part of the integration management process?

  1. Monitor and Control Project Work
  2. Plan Resource Management
  3. Manage Quality
  4. Report Performance 2
Correct Answer

Q4. Uncontrolled project scope changes are often referred to as ________ .

  1. Scope creep
  2. Scope verification
  3. Value Added Scope
  4. Scope control
Correct Answer

Q5. The project was going well when all of a sudden there were changes to the project coming from multiple stakeholders. After all the changes were determined, the project manager spent time with all the stakeholders to find out why there were changes and to discover any more. The project work has quieted down when a team member casually mentions to the project manager that he added functionality to a product of the project. Do not worry he says, “I did not impact time, cost, or quality!”

  1. Ask the team member how the need for functionality was determined
  2. Hold a meeting to review the team member’s completed work
  3. Look for other added functionality.
  4. Ask the team member how he knows there is no time, cost, or quality impact.
Correct Answer

Q6. To assist with the selection of a supplier for a large procurement on your project, you have hired a consultant. The consultant has prepared an independent estimate to be used as a benchmark while reviewing bids on the RFP. The independent estimate is confidential and is not shared with any bidders. When the sealed bids are opened, you discover that only one supplier has submitted a quote lower than the independent estimate. All other quotes are 45 percent to 70 percent higher than the benchmark. While discussing this development with members of the project team, you learn a distant relative of the consultant owns the company with the lowest bids. What is the best course of action?

  1. Confirm the lowest bidder has understood the requirements and award them the contract
  2. Since one of the suppliers knows more than others, you must disclose the independent estimate to all others to be fair
  3. Disqualify the lowest bidder
  4. Review the RFP specifications and requirements
Correct Answer

Q7. Resource requirements are determined:

  1. Before the project schedule and after the network diagram
  2. After the project schedule and project scope statement
  3. After the project schedule and WBS
  4. Before the project scope statement and the network diagram 43
Correct Answer

Q8. During project executing, a new project manager is assigned to the project and finds that the activity cost estimates for the project have rarely been accurate. Which of the following was MOST probably not done?

  1. Obtain a cost constraint from management, create a work breakdown structure, and develop a project management plan.
  2. Obtain a cost constraint from management, perform a risk assessment, and form a team.
  3. Form a team, create a work breakdown structure, and use historical records from previous projects.
  4. Form a team, develop a project management plan, and perform a risk assessment.
Correct Answer

Q9. Which of the following is the BEST method to make reward systems MOST effective?

  1. Pay a large salary increase to the best workers
  2. Give the team a choice of rewards
  3. Make the link between performance and reward clear
  4. Present notification of rewards within the company.
Correct Answer

Q10. As project manager, you would like to show the relationship between two variables to help your project team understand the quality impact better. Which tool should you use?

  1. Scatter Diagram
  2. Run Chart
  3. Fishbone Diagram
  4. Pareto Chart
Correct Answer










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