Project Management Question Bank
for Exam preparation

Project Management- Q2. In quality terms, one of the meanings of “out of control” is:

1. Someone on the team is upset
2. A data point on a control chart falls inside the upper or lower control limit.
3. Several data points on the same side of the mean within the upper and lower control limits.
4. A data point is within 1 sigma.

Project Management- Q3. A project manager asked various stakeholders to determine the probability and impact of a number of risks. He then analyzed assumptions. He is about to move to the next step of risk management. Based on this information, what has the project manager forgotten to do?

1. Evaluate tends in risk analysis.
2. Identify triggers.
3. Provide a standardized risk rating matrix.
4. Create a fallback plan.

Project Management- Q4. If your project will require redesign after completion of testing, which of the following diagramming techniques would be BEST to use?

1. GERT
2. PERT
3. CPM
4. ADM

Project Management- Q5. What is the difference between expected monetary value and net present value?

1. Expected value is the estimated value of the work actually accomplished and net present value is the value of the work to be done.
2. Expected value is the value it takes to recover your investment and net present value is the value of money.
3. Expected value is the probability times impact of an opportunity and net present value is the benefits less costs over many time periods.
4. Expected value is the estimated value of risk response plans and net present value helps determine the value of investments.

Project Management- Q6. All of the following are parts of the team’s stakeholder management effort EXCEPT:

1. Determining stakeholders’ needs.
2. Identifying stakeholders.
3. Giving stakeholders extras.
4. Managing stakeholders’ expectations.

Project Management- Q7. The stakeholder engagement plan is a subsidiary plan of the project management plan. It includes the strategies required to effectively engage project stakeholders. An ineffective stakeholder engagement strategy can lead to project failure. The stakeholder engagement plan:

1. Must be formal and highly detailed
2. Must be formal but broadly framed
3. Can be formal or informal but must be highly detailed
4. Can be formal or informal, highly detailed or broadly framed

Project Management- Q8. A change control system should be created:

1. As needed on the project
2. By management
3. As a formal documented procedure
4. By the team 4

Project Management- Q9. Three years back, your organization awarded a fixed price contract to a reputable local contractor to construct a new airport terminal in the city. A few days back, you received a change request from the contractor requesting to adjust the contract’s price. The contractor is claiming that as a result of the recent national recession, the prices of raw materials have gone up and he cannot complete the rest of the project at the contract price. Is the contactor’s request legitimate?

1. Yes, you cannot penalize the contactor for price escalations due to force majeure.
2. Yes, unless there is no Economic Price Adjustment provision in the contract.
3. No, the price of the contract is fixed and cannot be changed.
4. No, the price hike due to recession must be adjusted against the contractor’s profit.

Project Management- Q10. Greg’s project is in the initiating stage. The sponsor of the project has asked Greg to present a list of the identified project stakeholders at the next project update meeting. The sponsor has also asked Greg to present the project stakeholders’ current and desired engagement levels so they can brainstorm on the stakeholder engagement strategy. Which of the following is a presentation tool that can help Greg summarize all this information in a tabular format?

1. Communications management plan
2. Stakeholder register
3. Stakeholder engagement assessment matrix
4. Stakeholder engagement plan