Project Management Question Bank
for Exam preparation

Q2. You have signed a contract to construct a cross-country gas pipeline. The duration of the project is 5 years. Although the scope is well defined and the duration is long, the seller is insisting you reimburse any costs which may increase due to the time factor. What kind of contract will you select in this case?

1. CPIF
2. CPAF
3. FP-EPA
4. FPIF

Q3. Cost of quality includes all costs incurred over the lifetime of the product by investing in the prevention of nonconformance to requirements, appraising the product or service for conformance to requirements, and failing to meet requirements. Which is not an example of the cost of non-conformance?

1. Rework
2. Scrap
3. Liabilities
4. Destructive testing loss

Q4. The project management plan is LEAST useful for which of the following?

1. Guiding project execution
2. Documenting planning assumptions
3. Facilitating communication among stakeholders
4. Developing the project charter

Q5. Crashing helps you bring the project back on schedule if it is late. Which of the following statements is true about crashing?

1. Crashing should be done on the critical path
2. Crashing does not increase the cost
3. In crashing, you don’t start activities in parallel
4. All of the above

Q6. Project A has had ineffective project meetings since its inception. There have been complaints that information does not get to the right people, some people are talking too much during meetings, and the right people are not there to resolve the issues. What is MOST likely missing from this project?

1. A scope management plan
2. A staffing management plan
3. A communications management plan
4. A process improvement plan

Q7. You are a project manager for an automotive parts company. Your organization was hired to produce clutches for an exotic car company. This will involve the design and production of custom clutches. During the course of the project, as you review a quality control statistics chart that examines every clutch produced for the month, you notice several cases where the spring component of the clutch is expanding with too much force and is falling outside the upper control limit. Which type of Quality Control tool are you most likely using?

1. Control charts
2. Statistical Sampling
3. Cause-and-Effect diagram
4. Precedence Diagramming Method

Q8. You have a US $100,000,000 project that has 34 team members in four different countries. At the completion of project planning, you have identified six risks, 225 work packages, 13 stakeholders and seven phases to the project life cycle. What part of this project management plan needs to be revisited?

1. The Identify Risks process
2. The staffing management plan
3. The network diagram
4. The communications management plan

Q9. A project manager has completed risk response planning. She as planning to go on to risk monitoring and control when she found out from another project manager that she forgot to do something important in this step. Which of the following did she forget?

1. She has not created an overall risk ranking for the project
2. She has not analyzed secondary risks
3. She has not created workarounds
4. She has not created a prioritized list of quantified risks.

Q10. What is present value (PV)

1. Value of assets that a company owns
2. Today’s value of future cash flows
3. Future value of money on hand today
4. Current value of today’s assets adjusted for inflation 9