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Project Management Question Bank

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Question:

You have been given a multi-year project to build a refinery. This is a very large and complex project, and you now need to estimate the cost for this project. What basic assumption will you need to make while estimating the cost for this project?
  1. If you get the project budget in phases
  2. You will be given all costs and resources at the beginning of the project
  3. Whether the estimate will be limited to direct costs or if it will include the indirect costs as well
  4. If the project schedule is fixed or based on events






2. Which of the following is an output of the Define Activities process?

  1. Milestone list
  2. Project schedule activity diagrams
  3. Resource calendar
  4. Activity duration estimates
Correct Answer


3. Which of these is not an input to the Control Procurements process?

  1. Agreements
  2. Change requests
  3. Work performance data
  4. Project management plan
Correct Answer


4. You have been producing ball bearings in large numbers. For this kind of process, what technique will you use to verify if the products are of the right quality?

  1. Inspection of all products
  2. Statistical sampling
  3. Inspection of the first three samples
  4. Inspection of the last three samples
Correct Answer


5. A project is contracted on a Cost-Plus-Fixed-Fee (CPFF) basis with a fee of 10 percent of estimated costs. The estimated cost is US$50,000. If the project comes in at US$75,000 with no changes in project scope, what would be the total cost of the contract?

  1. US$55,000
  2. US$125,000
  3. US$75,000
  4. US$80,000
Correct Answer


6. Gordon is currently developing his project’s stakeholder management strategy. All enterprise environmental factors should be considered during this process. Which of the following enterprise environmental factors should be paid special attention during this process?

  1. Project templates
  2. The organization's culture and structure
  3. Commercial databases
  4. Lessons learned from past similar projects
Correct Answer


7. Which of the following and is the BEST method of completing “what if” scenarios to determine what combination of resources and interdependence will produce the best schedule?

  1. Critical chain method
  2. Monte Carlo
  3. Parametric estimating
  4. Resource leveling
Correct Answer


8. A project team member tells you that she went to her project manager with a good idea for a useful change to the project. Instead of giving her approval to make the change, the project manager asked her to write a report describing the benefits of the change. What is the MOST appropriate advice for the situation?

  1. The project manager is being unreasonable and should do that kind of work herself
  2. Remind the project manager that the benefit cost analysis for the project was done during project planning
  3. A project manager must be able to weigh the benefits of the change versus the costs and compare them to other possible changes. The team member should do what was asked.
  4. The team member should do what was asked because this sort of information must be given to the project sponsor to make the change.
Correct Answer


9. A project team has been arguing for days about the correct way to complete a high-level design. This argument has caused the schedule performance index (SPI) to fall 0.89 and the cost performance index (CPI) to 0.8. If the project manager tells the team, “we will schedule this discussion for our team meeting next week,” the project manager is:

  1. Using earned value
  2. Compromising
  3. Increasing costs even further
  4. Withdrawing.
Correct Answer


10. When entering into procurement, it is BEST to assume there will be disputes about the performance of the work as specified, and to:

  1. Include a procedure in the contract describing the means for dispute resolution
  2. Track claims to ensure the best position during litigation
  3. Make sure disputes are never brought to public knowledge
  4. Include a change order provision in the contract.
Correct Answer









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