Project Management Question Bank
for Exam preparation

Q2. The Executive VP of Finance has informed you that you will be the project manager for an energy audit the company is performing in order to save expenses. He has assigned you to identify the stakeholders and to start documenting the high-level assumptions and constraints. Your project is in what stage?

1. Initiating
2. Planning
3. Monitoring and Controlling
4. Executing

Q3. You are building a mansion that will have copper roofs. The duration of the project will be approximately three years. You have built into the contract that, as the price of copper increases, your price increases as a percentage of the cost of the copper. However, all other costs are fixed. This is an example of what type of contract?

1. Fixed Price with Economic Price Adjustment
2. Fixed Price Incentive Fee
3. Unit Price
4. Time and Materials

Q4. During the control quality process, you are reviewing a chart which has some lines above and below the x-axis and a cyclic line between them. What is the purpose of this chart?

1. To gather quality control data
2. To find the dependency between the variables
3. To find the trend
4. To determine if the process is stable

Q5. As the project manager, you are about to start the define scope process. You have the project charter and the organizational process assets list. Because there are no change requests in your project at this point, what must you have before you begin?

1. Product analysis
2. Requirements documentation
3. Updates to project documents
4. WBS

Q6. Which of the following statements is not accurate about the initial phase of a project?

1. The highest uncertainty is at this stage of the project.
2. The cost associated at the beginning of the project is highest.
3. Stakeholders have maximum influence during this phase.
4. Staffing levels are the lowest at this stage.

Q7. Stanley's project is in execution. Stanley has a monthly stakeholder update meeting scheduled in which he presents the project's progress and current issues to the key stakeholders. During the last stakeholder update meeting, the stakeholders requested Stanley to provide bi-weekly project updates instead of monthly updates. The communication management plan has been broadly framed, and it does not restrict Stanley from doing bi-weekly updates. What should Stanley do?

1. Start providing bi-weekly updates instead of monthly updates
2. Update the communication management plan prior to providing the biweekly updates
3. Disregard the stakeholders' request and continue with the monthly updates
4. Request that the stakeholders submit a change request

Q8. You have a project with four activities as follows. Activity 1 can start immediately and has an estimated duration of 1. Activity 2 can start after activity 1 is completed and has an estimated duration of four. Activity 3 can start after activity 2 is completed and has an estimated duration of five. Activity 4 has an estimated duration of 8. It can start after activity 1 is completed. Both activity 3 and 4 must be completed before the project is complete. What is the critical path of the project?

1. Start, 1, 2, 3, End
2. Start 1, 4, 3, End
3. Start 1, 4, End
4. Start 1, 2, 3, 4, End Activity Baseline Crash Time Cost Time Cost A 10 $4,000 8 $6,000 B 2 $6,000 2 $6,000 C 14 $22,000 12 $26,000 D 6 $9,000 5 $10,000 E 9 $14,000 7 $19,000 F 8 $18,000 4 $36,000 76

Q9. You are a project manager for a new product development project that has four levels in the work breakdown structure. The network diagram has been created, the duration estimates have been compressed, and a schedule has been developed. What schedule management activity should you do NEXT?

1. Control Schedule
2. Estimate Activity Resources
3. Analogously estimate the schedule
4. Gain approval

Q10. A company asks one of the project managers to lead a project to create a substantially improved version of one of the company’s best-selling products. The project manager is given total freedom of decision and resources, including whether to utilize contractor services and/or the company’s resource pool. Under these circumstances, which of the following would be the BEST way for the project manager to build the team?

1. She should choose her team from the top developers and fabrication workers in the company
2. She should create a team of company line workers and contract the development services under a cost reimbursable contract with provisions to protect confidentiality.
3. She should contract the entire team utilizing a cost plus incentive fee type of contract.
4. She should contract selected team members on an ad hoc and as needed basis utilizing a time and material contract.