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Project Management Question Bank
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Question:

There is a probability of 0.1 that a given risk will occur in a project. If it occurs, it will result in a loss of US $10,000. The insurance cost for this event is US $700, with a deductible amount of US $250. Should a rational project manager buy this insurance?
  1. Yes, since $1,000 > $950.
  2. Yes, since $1,000 > $700.
  3. No, since the deductible amount changes the expected monetary value of the risk event.
  4. No, since $1,250 > $1,000.






Q2. A major construction project has been having a lot of schedule changes due to unanticipated weather problems. Who is it BEST to notify of these changes?

  1. Stakeholders
  2. Sponsor
  3. Project team
  4. Functional managers
Correct Answer

Q3. During its first winter, a multi-year construction project experienced weather-related schedule delay that all the local parties involved described as typical for the area. What should the project manager do to integrate this information into the project schedule?

  1. Lengthen the estimated activity duration for all activities to occur the following winter
  2. Re-evaluate the schedule to determine the potential impact
  3. Leave the current project schedule unchanged and work the issues as they arise next year
  4. Make changes to the project management plan in order to maintain the current project schedule
Correct Answer

Q4. In a SWOT analysis, when you are able to convert threats into opportunities and weaknesses into strengths, it is known as:

  1. Conversion strategy
  2. Reverse strategy
  3. FMEA analysis
  4. Benefit realization
Correct Answer

Q5. You are assigned as a project manager to lead a new quality improvement project. Management is asking for a project management plan. Which of the following should you create FIRST?

  1. A process assurance plan
  2. A quality management plan
  3. A project management plan
  4. A project scope statement
Correct Answer

Q6. A project manager is managing a project in which there are teams located in remote locations in order to obtain cost savings. This is in accordance with organizational guidelines that require that at least 25 percent of the work should be done from a remote location. This is an example of:

  1. A constraint
  2. A necessity
  3. A choice
  4. An assumption
Correct Answer

Q7. The customer wants to expand the project scope after the project performance measurement baselines have been established. The customer will need to follow which procedures?

  1. Scope control
  2. Integrated change control
  3. Integrated management
  4. Document control
Correct Answer

Q8. Which process group corresponds to the "act" component of the plan-docheck- act cycle?

  1. Monitoring & Controlling
  2. Executing
  3. Planning
  4. Initiating
Correct Answer

Q9. Once signed, a contract is legally binding unless:

  1. One party is unable to perform.
  2. One party is unable to finance its part of the work.
  3. It is in violation of applicable law.
  4. It is declared null and void by either party's legal counsel.
Correct Answer

Q10. A project manager is trying to coordinate all the activities on the project and has determined the following: Activity 1 can start immediately and has an estimated duration of 1 week. Activity 2 can start after activity 1 is completed and has an estimated duration of 4 weeks. Activity 3 can start after activity 2 is completed has an estimated duration of 5 weeks. Activity 4 can start after activity 1 is completed and has estimated duration of 8 weeks. Both activities 3 and 4 must be completed before the end of the project. What is the duration of the critical path for this project?

  1. 10
  2. 11
  3. 14
  4. 8
Correct Answer










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