Project Management Question Bank
for Exam preparation

Q2. You have assumed responsibility for a complex, business-critical project involving new technology and approaches. All of the project’s stakeholders have emphasized to you that this is a high-risk effort, and that you are responsible for effectively identifying and addressing the project’s risks. There are a number of risk management tools and approaches you have been encouraged to use, but there is no agreement from the stakeholders as to which is the superior approach. The organization sponsoring the project has recommended risk management methodologies and templates, but does not consistently or effectively use them. In addressing risk management planning for this project, what is the MOST important consideration you should keep in mind?

1. Ensure risks have been identified and mitigation strategies have been developed for the most important ones.
2. Complete at least a moderately thorough examination of available risk management tools and methodologies to select the best ones for the project.
3. Create a high quality risk management plan and risk response plan.
4. Tailor the level, type and visibility of risk management to match the risks associated with the project and the project’s importance.

Q3. You are developing a product for your client. During the development of the product, the client has indicated that he needs some changes in the product, so you process his request. How do you manage changes in product specification?

1. Change management
2. Integration management
3. Product management
4. Configuration management

Q4. The CEO of the company has assigned a project manager to a project that the CEO has wanted to do for a long time. What should the project manager do FIRST?

1. Assist the CEO in putting together a benefit cost analysis to show the need for the project.
2. Work with the CEO to get buy-in from the other stakeholders
3. Produce a ranking of all feasible projects, including the assigned project, in a weighted scoring of decision variables.
4. Guide the creation of a project charter.

Q5. During the middle of the project, things have been going well. The work authorization system has allowed people to know when to start work and the issue log has helped keep track of the stakeholders’ needs. The benefit cost ratio has been improving and the sponsor has expressed his appreciation for the team members’ efforts by hosting a milestone party for the team. The project manager gets a call from a team member saying that the results from the completion of their activity’s predecessor is two days late. Which of the following reasons would BEST describe why this occurred?

1. The project manager was focusing on the sponsor’s needs.
2. Functional management was not included in the communications management plan.
3. The successor activities should have been watched, not the predecessors.
4. The right people were not invited to the milestone party.

Q6. Which process is concerned with providing forecasts to update current cost information?

1. Monitor and Control Project Work
2. Project Management Information System
3. Close Project or Phase
4. Direct and Manage Project Work

Q7. You need to hire several subject matter experts for your project. Time is limited and the scope of work is also not very clear. In this situation what kind of procurement contract will you utilize to hire experts?

1. Cost plus fixed fee
2. Firm fixed price
3. Fixed price economic price adjustment
4. Time and material

Q8. The sponsor’s role on a project is BEST described as:

1. Helping to plan activities
2. Helping to prevent unnecessary changes to project objectives.
3. Identifying unnecessary project constraints
4. Helping to put the project management plan together.

Q9. The carpeting subcontractor has, without prior approval, installed carpet that is a slightly different pattern from the pattern select for the project. The difference in cost per square yard saves the buyer approximately US $10,000. Upon learning of the change, the BEST course of action for the project manager is to:

1. Demand that the original carpeting be installed.
2. Meet with the customer to explain what happened and celebrate the $10,000 windfall
3. Document the change in the change control plan.
4. Determine the overall impact on the project.

Q10. The customer responsible for overseeing your project asks you to provide a written cost estimate that is 30 percent higher than your estimate of the project’s cost. He explains that the budgeting process requires manager to estimate pessimistically to ensure enough money is allocated for projects. What is the BEST way to handle this?

1. Add the 30 percent as a lump sum contingency fund to handle project risks
2. Add the 30 percent to your cost estimate by spreading it evenly across all project activities
3. Create one cost baseline for budget allocation and a second one for the actual project management plan.
4. Ask for information on risks that would cause your estimate to be low.