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Project Management Question Bank
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You have signed a contract with a contractor which states that you will pay for the entire contractor’s legitimate costs, plus a fee based on the subjective evaluation of his performance; this will not be subject to an appeal. What kind of contract is this?
  1. CPIF
  2. CPFF
  3. FPIF
  4. CPAF

Q2. Mark is managing an airport construction project. He is currently identifying his project stakeholders, and he has compiled a long list of stakeholders already. Managing expectations of every project stakeholder is not practical. What should he do in this situation?

  1. Project stakeholders should be prioritized based on their influence and interest.
  2. Stakeholder analysis should be outsourced.
  3. Non-key stakeholders should be dropped from the stakeholder register.
  4. Stakeholder management processes should not be followed for such complex projects.
Correct Answer

Q3. What would be the BEST explanation for the following: Both the cost variance and schedule variance are negative, but the cost variance is lower than the schedule variance.

  1. The project underspent because all work was not completed, but overspent for work that was done.
  2. The project overspent due to increased costs and yet completed some activities faster.
  3. The project activities took longer than expected, but costs were lower.
  4. The project underspent, because costs were lower than planned and activities were easier to complete than planned.
Correct Answer

Q4. If your project will require redesign after completion of testing, which of the following diagramming techniques would be BEST to use?

  1. GERT
  2. PERT
  3. CPM
  4. ADM
Correct Answer

Q5. The engineering resource group, a matrix organization of which a project manager’s project team is a part, has a policy of no salary bonuses for project work. The project manager’s current project has an aggressive timeline and a difficult technical obstacle to overcome. A new product offering is dependent on this project’s success in the current timeline. The project manager has heard grumbling from his team members about the fact that they cannot be rewarded for their effort. What is the FIRST thing the project manager should do?

  1. The project manager should determine whether other team members from another department can help with the project.
  2. The project manager should talk to management to determine other rewards that can be given.
  3. The project manager should negotiate a less aggressive schedule from the client.
  4. The project manager should talk with the team about the importance of getting this done on time and explain the company policy.
Correct Answer

Q6. Which motivational theory uses the concept of Theory Y?

  1. Maslow
  2. Deming
  3. McGregor
  4. Herzberg
Correct Answer

Q7. A schedule performance index (SPI) of 0.76 means:

  1. You are over budget
  2. You are ahead of schedule
  3. You are only progressing at 76 percent of the rate originally planned
  4. You are only progressing at 24 percent of the rate originally planned
Correct Answer

Q8. Allocating ownership of a risk to a third party who is best able to capture the opportunity is an example of ________ the risk.

  1. Sharing
  2. Enhancing
  3. Exploiting
  4. Accepting
Correct Answer

Q9. Formal written correspondence with the customer is required when:

  1. Defects are detected.
  2. The customer requests additional work not covered under contract.
  3. The project has a schedule slippage that includes changes to the critical path.
  4. The project has cost overruns.
Correct Answer

Q10. Different stakeholders might require dissimilar outcomes from a project. An integral component of stakeholder management is managing these competing expectations throughout the project from initiation to closure. Which of the following management techniques can help in this situation?

  1. Stakeholder engagement analysis
  2. Facilitation
  3. Questionnaires
  4. Expert judgment
Correct Answer

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