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Project Management Question Bank
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Question:

Who has the cost risk in a fixed price (FP) contract?
  1. The team
  2. The buyer
  3. The seller
  4. Management






Q2. You have a contract to build a manufacturing plant in Kuala Lumpur. However, you are not familiar with the building codes in Kuala Lumpur or Malaysia, so you are reviewing all their building codes prior to “turning a shovelful of earth.” This is an example of:

  1. Project initiation
  2. Quality assurance
  3. Quality planning
  4. Quality control
Correct Answer

Q3. From the project perspective, quality attributes:

  1. Determine how effectively the performing organization supports the project.
  2. Provide the basis for judging the project’s success or failure
  3. Are specific characteristics on which a product is designed and tested.
  4. Are objective criteria that must be met.
Correct Answer

Q4. A work breakdown structure is an input to all of the following processes EXCEPT:

  1. Define Activities
  2. Estimate Costs
  3. Perform Quality Assurance
  4. Plan Procurements
Correct Answer

Q5. Andrew was working as a senior project manager at a company when he resigned from his position. This company recently hired Jack to replace Andrew. Jack had worked with Andrew in the past, and he knows him personally. Jack is now in charge of a project that Andrew left in the middle. If Jack calls Andrew for an opinion on this project, this constitutes:

  1. Jack‘s incompetence since he is dependent on Andrew‘s opinion
  2. An example of obtaining expert judgment from a senior
  3. Unethical behavior by Jack since Andrew has already resigned from the company
  4. A conflict of interest situation as Jack knows Andrew
Correct Answer

Q6. A project manager prepared a presentation that included data on the project’s use of resources, improvements in staff efficiency, and the cost savings. These activities are part of what process?

  1. Manage Stakeholder Engagement
  2. Monitor and Control Project Work
  3. Control Schedule
  4. Control Quality
Correct Answer

Q7. Which of the following BEST describes what co-location does for the project?

  1. Saves cost
  2. Reduces communication problems
  3. Accelerates schedule
  4. Improves opportunities
Correct Answer

Q8. If the project's current total earned value (EV) is $100,000 and the actual amount spent (AC) is $95,000, what is the cost variance of the project?

  1. The cost variance is $1.05
  2. The cost variance is $5,000
  3. The cost variance is $0.95
  4. The cost variance is $-5,000
Correct Answer

Q9. Which of the following processes includes asking team members about the time estimates for their activities and reaching agreement on the calendar date for each activity?

  1. Sequence Activities
  2. Develop Schedule
  3. Define Scope
  4. Develop Project Charter
Correct Answer

Q10. You are managing a heavy equipment manufacturing project that involves many mechanical, electrical, and IT staff. Your team prepared a schedule network diagram using duration estimates with dependencies and constraints. Your team also calculated the critical path for the project using late and early values. Today, your project office has indicated to you that some of the resources you had planned for the project will be unavailable. To deal with this, you explore the possibility of modifying the schedule to account for limited resources. What is your best possible step in such a situation?

  1. Recalculate critical path after applying the resource constraints
  2. Perform Resource Leveling to account for limited resources
  3. Use crashing or fast tracking to level resources across the project
  4. Apply leads and lags to develop a viable schedule
Correct Answer










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