Project Management Question Bank
for Exam preparation

Q2. There is a probability of 0.1 that a given risk will occur in a project. If it occurs, it will result in a loss of US $10,000. The insurance cost for this event is US $700, with a deductible amount of US $250. Should a rational project manager buy this insurance?

1. Yes, since $1,000 > $950.
2. Yes, since $1,000 > $700.
3. No, since the deductible amount changes the expected monetary value of the risk event.
4. No, since $1,250 > $1,000.

Q3. Your manager is presenting a status report of all projects being run in his division. He reports that all projects are showing a positive CV. However, you know that your status reports for the last several weeks have been reporting a negative CV. What do you do?

1. Do nothing.
2. Offer to review all your manager's combined status reports before he presents them.
3. Notify the appropriate management immediately.
4. Ask your manager if that information was simply a typographical error.

Q4. If project time and cost are not as important as the number of resources used each month, which of the following is the BEST thing to do?

1. Perform a Monte Carlo analysis
2. Fast track the project
3. Perform resource leveling
4. Analyze the life cycle costs

Q5. Which of the following interpersonal skills is of prime importance during the collection and analysis of stakeholders’ needs and expectations?

1. Trust building
2. Conflict resolution
3. Overcoming resistance
4. Active listening

Q6. What should be done with risks on the watch list?

1. Document them for historical use on other projects.
2. Document them, and then revisit them during project monitoring and controlling
3. Document them, and set them aside because they are already covered in your contingency plans
4. Document them, and given to the customer.

Q7. You are determining the probability and impact of risks in order to find the expected monetary value and then the contingency reserve. Which of the following statements is true about the expected monetary value?

1. You don't consider positive risks while calculating the EMV
2. You consider positive as well as negative risks while calculating the EMV
3. It is a tool and technique of the Perform Qualitative Risk Analysis Process
4. None of the above

Q8. Jim is managing a road network design project for a government agency. He is currently performing the Plan Stakeholder Engagement process for the project. Which of the following documents will provide the list of project stakeholders to Jim for this process?

1. Organizational process assets
2. Enterprise environmental factors
3. Stakeholder register
4. Project management plan

Q9. Based on the chart, how many weeks will this project take?

1. 16
2. 31
3. 18
4. 13

Q10. You are reviewing an old project file where you find a document which contains the project description, important requirements, milestones, and project budget. What document is it?

1. Scope statement
2. Project charter
3. Scope baseline
4. Procurement document