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Project Management Question Bank

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The probability and impact matrix helps you rank risks so you can develop your risk management plan accordingly. Which statement is true about the probability and impact matrix?
  1. It includes high-grade risks with its impact
  2. It includes low-grade risks with its impact
  3. Here the definition of probability and impact is decided
  4. A grid showing probability and impact of the risk

Q2. Your boss is worried about the project schedule. There is a critical deliverable due to the federal government in two weeks. If you miss the deliverable, you could lose the entire contract. To help reduce the boss’s stress you show him the earned value calculations you just completed. They show your cost performance index (CPI) is 1) is US $490 million. Should your boss be comfortable?

  1. Yes, your SV is $10 million.
  2. No, your CPI is too high
  3. He needs more data
  4. Yes, your SPI is 1.05.
Correct Answer

Q3. You have advertised in several newspapers to inform interested contractors to apply for a bid for some of your procurement needs. Which process are you currently in?

  1. Plan procurement management
  2. Conduct procurement
  3. Control procurement
  4. None of the above
Correct Answer

Q4. A project manager has made a change to the project. What should she do NEXT?

  1. Assign resources
  2. Revise the project management plan and/or project documents
  3. Evaluate impact
  4. Request change control board involvement
Correct Answer

Q5. You have floated a tender for your project, and to clarify some issues raised by bidders you are conducting a bidder conference. What will not be done in a bidder conference?

  1. Award the contract
  2. Clarify the doubt
  3. Explain the bid terms and conditions
  4. None of the above
Correct Answer

Q6. Which of the following is not an input to the Develop Project Charter process?

  1. Agreements
  2. Business Case
  3. Benefits management plan
  4. Stakeholder register
Correct Answer

Q7. You are managing a project. An audit team wants to know where they can find information on training plans for the project team members and certification requirements. This are in the:

  1. Resource Breakdown Structure
  2. Staff Release Plan
  3. Resource Management Plan
  4. Communications Management Plan
Correct Answer

Q8. You are in a process which helps you evaluate the effectiveness of the risk process throughout the project. Which of the following documents will not be updated here?

  1. Assumption log
  2. Issue log
  3. Risk report
  4. Change log
Correct Answer

Q9. Which of the following is NOT possible outcome of risk acceptance?

  1. The project will suffer no damages
  2. The project will use the risk reserve
  3. The project will recover cost from the insurance company
  4. The project will experience a cost or schedule overrun.
Correct Answer

Q10. In which part of the cost management process is earned value (EV) used?

  1. Performance measurement analysis and variance management
  2. Forecasting and project performance reviews.
  3. Creating the cost baseline and the cost control system
  4. Reserve analysis and cost aggregation
Correct Answer

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