Project Management Question Bank
for Exam preparation

Q2. A project has a payback period of nine months. What does this mean?

1. It will take the project nine months to start incurring costs
2. The project will be complete in nine months
3. The first nine months of the project will provide profit to the company
4. It will take the project nine months to cover the investment and start generating revenue

Q3. A project manager discovers a defect in a deliverable due to the customer under contract today. The project manager knows the customer does not have the technical understanding to notice the defect. The deliverable meets the contract requirements, but it does not meet the project manager’s quality standard. What should the project manager do in this situation?

1. Issue the deliverable, and get formal acceptance from the customer.
2. Note the problem in the lessons learned so that future projects do not encounter the same problem.
3. Discuss the issue with the customer
4. Inform the customer that the deliverable will be late.

Q4. You are in the middle of a complex negotiation when the other party says, “We need to finish in one hour because I have to catch my plane.” That person is using which of the following negotiation strategies?

1. Good guy, bad guy
2. Delay
3. Deadline
4. Extreme demands.

Q5. The sponsor assigns you to be the project manager of a project that crosses functional lines and is designed to operate a 6 sigma levels. The sponsor has given you cost and schedule requirements. Which of the following would NOT be an appropriate action on your part?

1. Accepting the requirements
2. Evaluating the project risks
3. Creating a detailed estimate
4. Working with the team to come up with a project management plan

Q6. What percentage of the total distribution is 3 sigma from the mean equal to?

1. 68.26 percent
2. 99.99 percent
3. 95.46 percent
4. 99.73 percent

Q7. Your company wants to get ISO 9001 certified. Therefore, they call some experts from a lead consultancy to come and certify the company as ISO 9001. These experts come and review your documents and verify each and every detail. What process is this?

1. Manage quality
2. Quality control
3. Inspection
4. None of the above

Q8. You have a team of engineers working on your project. Two of the engineers have frequent disagreements. You ask them to resolve their differences through a discussion. However, that does not yield any results. Subsequently, you intervene, and based on your analysis of the situation, you suggest some changes in the way they work with each other. This still does not yield results, and you find that the project schedule is beginning to suffer. What is your next course of action?

1. Take disciplinary action, if required, since the needs of the project are not being met.
2. Don't do anything. Differences of opinion among the team members are a healthy situation.
3. Speak to the two team members and ask them to resolve their conflict amicably.
4. Ensure that they work in different shifts so that they don't clash with each other.

Q9. One of the risks your team has discovered is a high probability that the equipment you are developing will not perform under the pressure it needs to in the workplace. In order to handle this risk, you have chosen to prototype the equipment. This is an example of risk:

1. Mitigation.
2. Avoidance
3. Transference.
4. Acceptance.

Q10. Your project team has identified a major project risk. After talking to the project management office, they determine that a reserve on the project is not necessary. What is the NEXT step?

1. List the time or cost overrun expected on the project in your project management plan.
2. Develop risk transference strategies.
3. Create a risk response plan that includes the risk.
4. Ignore he risk until it happens.