Project Management Question Bank
for Exam preparation

Q2. The approximate resource costs necessary for completing project activities are compiled during which project management process?

1. Cost Reserve Analysis
2. Estimate Costs
3. Cost aggregation
4. Forecasting.

Q3. You are managing a heavy equipment manufacturing project that involves many mechanical, electrical, and IT staff. Your team prepared a schedule network diagram using duration estimates with dependencies and constraints. Your team also calculated the critical path for the project using late and early values. Today, your project office has indicated to you that some of the resources you had planned for the project will be unavailable. To deal with this, you explore the possibility of modifying the schedule to account for limited resources. What is your best possible step in such a situation?

1. Recalculate critical path after applying the resource constraints
2. Perform Resource Leveling to account for limited resources
3. Use crashing or fast tracking to level resources across the project
4. Apply leads and lags to develop a viable schedule

Q4. You have just discovered an error in the implementation plan that will prevent you from meeting a milestone date. The BEST thing you can do is:

1. Develop options to meet the milestone date.
2. Change the milestone date
3. Remove any discussion about due dates in the project status report
4. Educate the team about the need to meet milestone dates

Q5. Though it was difficult, the project manager received agreement to the project charter from all four sponsors involved on the project and the US $400,000 project was approved. Now the cost variance for the project is -$500 and the last performance review was positive. Just when the project entered its second phase, a team member on a noncritical path activity announced she was leaving the company. The float of activity L changed from two to four days. Only one unidentified risk has occurred with a minor impact. The last quality review showed that the project has made use of the results of the last design of experiments. Based on this information, what should the project manager do NEXT?

1. Complete closure of the first phase
2. Fast track the project to add more float
3. Review the management plans
4. Investigate additional risks caused by the difficulty with the senior managers.

Q6. You are a project manager on an international project of great importance to the client. The client is from another country and is so excited by how well the project is going that he presents you with a company automobile for your personal use. The BEST thing for you to do would be:

1. Thank him and offer a gift in exchange
2. Politely turn down the gift
3. Ask that the gift be exchanged for something that can be shared by the team
4. Ask for a gift that can be used up before you return home

Q7. Although the stakeholders thought there was enough money in the budget, halfway through the project the cost performance index (CPI) is 0.7. To determine the root cause, several stakeholders audit the project and discover the project budget was estimated analogously. Although the activity estimates add up to the project estimate, the stakeholders think something was missing in how the estimate was completed. Which of the following describes what was missing?

1. Estimated costs should be used to measure CPI.
2. SPI should be used, not CPI
3. Bottom-up estimating should have been used
4. Past history was not taken into account.

Q8. A project team is worried that the integration of the components of the project will result in uncovering flaws. Instead of continuing their work, they are constantly looking for flaws to try to prevent their system from being the only one found o have flaws during integration. Quality and technical experts were called in to advise and found little possibility of errors for this project. An agreement was reached by all parties on what will be done to prevent errors. It might be BEST for the project manager to:

1. Smooth the situation
2. Compromise the situation
3. Tell the team to create quality testing plans
4. Let management know of the concern.

Q9. What risk management process MOST affects the project management plan?

1. Identify Risks
2. Perform Qualitative Risk Analysis
3. Plan Risk Responses
4. Control Risks

Q10. You have been assigned as the project manager for a construction project that has had two previous project managers, when you discover that a deliverable will be late. Your analysis shows that the item can be purchased from another seller at a higher price without affecting the schedule. What is the BEST thing to do?

1. Evaluate the impact of the decision
2. Discuss the impact with the customer and ask for a decision
3. Crash or fast track the project.
4. Change the project management plan to reflect the new due date.