Project Management Question Bank
for Exam preparation

Q2. Company ABC is evaluating three consulting companies to find a consultant to perform professional services. They request information on how the three consulting companies allocate fringe benefits to their clients. What type of cost is Company ABC asking about?

1. Variable
2. Fixed
3. Direct
4. Indirect.

Q3. Which of the following statements regarding Resource Leveling and Resource Smoothing is correct:

1. Resource Smoothing can cause the original critical path to change, while Resource Leveling doesn’t alter the project’s critical path.
2. Both Resource Leveling and Resource Smoothing can alter the project’s critical path.
3. Neither Resource Leveling nor Resource Smoothing alters the project’s critical path.
4. Resource Leveling can cause the projects’ critical path to change, while Resource Smoothing doesn’t alter the project’s critical path.

Q4. The RACI chart is an example of a responsibility assignment matrix (RAM). The letters R and C in “RACI” stand for:

1. Responsible and consult
2. Resource and consultant
3. Responsible and categorize
4. Resource and consult

Q5. Your project has a cost overrun and a new budget has been approved. Which formula will you use to calculate the TCPI?

1. (BAC–AC) / (BAC–EV)
2. (BAC–AC) / (EAC–EV)
3. (BAC–EV) / (BAC–AC)
4. (BAC–EV) / (EAC–AC)

Q6. Which statement BEST explains the phrase “Quality is planned in, not inspected in.”

1. It is more expensive to determine quality by inspection than by planning it.
2. Quality activities occur during the planning process group of the project
3. Quality is part of planning, not inspection
4. Planning for quality is after the fact.

Q7. A functional manager meets with the project manager’s boss to discuss a change to the acceptance criteria for a major deliverable. After the meeting, the boss calls the project manager into his office and tells him to make the change. What is the BEST thing to do?

1. Make the change as soon as possible.
2. Understand the change.
3. Supply the boss with a change form
4. Evaluate the impact of the change.

Q8. Which of the following regarding performance reporting is CORRECT?

1. It is done during project planning and project executing.
2. It is done during project planning and project monitoring and controlling.
3. It is done during project monitoring and controlling and project closure.
4. It is done during project executing and project monitoring and controlling.

Q9. You are a consulting project manager and an investment bank has a contract with you to run a large information technology project that is expected to last 15 months. During the Direct and Manage Project Work process, you discover that several regulatory requirements were addressed in the project management plan but missed from the scope statement. Failure to meet these requirements could result in legal action against the company. However, implementing the technology to comply with these regulations could exceed the budget and scope of the project and result in the cancellation of the project. What should you do?

1. Do not do anything as these requirements are not a part of the scope baseline.
2. Request additional funds to implement these requirements.
3. Submit a change request to incorporate the missed requirements in the project's scope.
4. This is a classic example of scope creep and such requirements must be ignored.

Q10. 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