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Project Management Question Bank
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Question:

You are the project manager of a project executing work under a contract signed with a buyer organization. Just after the project has started, you notice that the buyer organization had made a mistake in the financial terms, and your organization stands to benefit considerably from this oversight. What should your stance be?
  1. Do not take any action since a contract is a binding and legal document.
  2. Discuss with your management how you could gain a bonus due to the increased revenue your company stands to gain.
  3. Informally check with your counterpart in the buyer organization to see whether he or she noticed this error.
  4. Bring the error to the notice of the buyer organization and have an amendment made to the contract since this was in good faith.






Q2. Variance analysis refers to cost performance measurements used to determine the magnitude of variation in comparison to the original cost baseline. What is the trend on the percentage range of acceptable variances as the project progresses?

  1. The percentage range of acceptable variances will tend to decrease as the project progresses.
  2. The percentage range of acceptable variances will tend to increase as the project progresses.
  3. The percentage range of acceptable variances will tend to decrease first and then increase as the project progresses beyond 50 percent completion.
  4. The percentage range of acceptable variances remain the same as the project progresses.
Correct Answer

Q3. You have recently joined an organization as the procurements manager. You have just received an invoice from a contractor. Some of the items from the invoice are as follows: EV of work completed to date: $50,000. AC of work completed to date: $40,000. Total costs reimbursed by the buyer to date: $35,000. If the contract between the buyer and the contractor is a CPIF contract, what is the total value payable to this contractor? (Assume that the contract allows for a 10 percent fee over net payable whenever CPI > 1).

  1. $500
  2. $5,500
  3. $44,000
  4. $55,000
Correct Answer

Q4. You have made John responsible for painting a certain portion of the building you are constructing. John completes the painting and submits his bills to you. You review his invoices, pay him and close the contract. What process is this?

  1. Close project
  2. Conduct procurement
  3. Close procurement
  4. Control procurement
Correct Answer

Q5. A project has a schedule reserve of 28 days when the customer adds scope not previously planned for. The change has a 40 percent chance of delaying the project by an additional 14 days. What should be done?

  1. Add more resources to the project.
  2. Look for ways to cut 14 days of work from another activity.
  3. Add 5.6 days to the schedule reserve.
  4. Plan to add 14 days of overtime to the project.
Correct Answer

Q6. You are developing a product for your client. During the development of the product, the client has indicated that he needs some changes in the product, so you process his request. How do you manage changes in product specification?

  1. Change management
  2. Integration management
  3. Product management
  4. Configuration management
Correct Answer

Q7. You have been managing a construction project in a developing country, and now you are closing the project. The tools and equipment that were used on the project have to be returned to your company’s European headquarters. A nongovernmental organization that builds and repairs medical facilities in this country has come to you to request that this equipment be donated to them. What should you do?

  1. Donate all tools and equipment
  2. Refuse the request
  3. Donate only the tools and equipment whose value is below your purchase approval limit
  4. Notify the appropriate management
Correct Answer

Q8. The installation project has a CPI of 1.03 and an SPI of 1.0. There are 14 team members and each team member had input into the final project management plan. The customer has accepted the three deliverables completed so far without complaint and the responsibility assignment matrix has not changed since the project began. The project is being completed in a matrix environment and there are no contracts needed for the project. Though the sponsor is happy with the status of the project, one of the team members is always complaining about how much time his project work is taking. Which of the following is the BEST thing for the project manager to do?

  1. Review the reward system for the project.
  2. Try to improve schedule performance of the project
  3. Meet with the customer to try to extend the schedule.
  4. Gain formal acceptance in writing from the customer.
Correct Answer

Q9. All of the following are purposes of the project charter EXCEPT:

  1. It establishes the project.
  2. It identifies the product acceptance criteria
  3. It gives the project manager authority
  4. It includes stakeholders’ requirements
Correct Answer

Q10. A project manager would like to resolve conflicts by a give-and-take attitude rather than by a one-sided approach. Which of these approaches is he likely to use?

  1. Forcing
  2. Problem-solving
  3. Directing
  4. Withdrawing
Correct Answer








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