Project Management Question Bank
for Exam preparation

Q2. There are two projects to choose between: Project A with an NPV of US $45,000, or Project B with an NPV of US $85,000. What is the opportunity cost of selecting project B?

1. $45,000
2. $85,000
3. $40,000
4. $130,0000

Q3. Risks may be identified during the entire lifecycle of a project. Identify Risks is what type of process?

1. Qualitative
2. Effort-driven
3. Discrete
4. Iterative

Q4. You are a project manager working on a multimillion-dollar project. As the project has progressed, you have become friends with the general contractor. You are working on a US $100,000 change request. She has offered to let you use her boat on the lake this weekend while she is away. What should you do?

1. Accept the offer with thanks
2. Decline the offer
3. Decline the offer and report it to your supervisor
4. Ask your boss to approve your use of the boat

Q5. For projects where a business analyst collaborates with the project managers in managing the project scope, which of the following task is most likely to be performed by the business analyst?

1. Acquire project resources
2. Monitor the change control process
3. Elicit, document, and manage stakeholder requirements
4. Control project costs

Q6. As the Project Manager for Midway Carnival Rides, you are beginning the Define Scope process. Which of the following is a key input to this process?

1. Project Scope Statement
2. Expert Judgment
3. Project Charter
4. WBS

Q7. In which of the following contract types does the buyer have the most cost risk?

1. Fixed price incentive fee (FPIF)
2. Time and material (T&M)
3. Cost plus award fee (CPAF)
4. Cost plus percentage of costs (CPPC)

Q8. During the Develop Schedule process, which of the following would BEST provide the basis for the MOST likely activity duration estimate?

1. Labour productivity rates published by a professional association
2. A consultant’s estimate of the overall labour man-hours required.
3. The initial estimate used to budget the project
4. The schedule for a similar project at the same facility completed two years earlier.

Q9. Which of the following statements about the management of risks in a project is incorrect?

1. The effect of various risks on project scope, cost, and quality is numerically analyzed in the perform quantitative risk analysis process.
2. Positive risks are mitigated during the plan risk responses process.
3. Stakeholder analysis is performed during the plan risk management process.
4. Risk report is produced during the perform quantitative risk analysis process.

Q10. The Close Project or Phase process is not performed when:

1. Cancelling projects
2. Closing projects
3. Closing project phases
4. Reactivating projects