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Project Management Question Bank
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During the planning phase, you have created the WBS for the work that you are about to complete. However, because of a lack of information you are not able to create the WBS for the rest of the work, so you leave it until you get the correct and detailed information. This is an example of:
  1. Progressive elaboration
  2. Improper collecting requirement process
  3. Rolling wave planning
  4. Improper scope statement

Q2. Identify stakeholders is a process where you identify stakeholders for your project. Which of the following statements is not true regarding this process?

  1. This process happens throughout the project
  2. This process happens in the planning phase
  3. This process happens in the executing phase
  4. This process is started only when the project charter is signed
Correct Answer

Q3. A project is ending one of its phases. What should be done before moving on to the next phase?

  1. Team meeting
  2. Validate Scope
  3. Management meeting
  4. Scope management 05
Correct Answer

Q4. During the planning processes, activity G was estimated to take five days. Activity G is on the critical path. On day 2, it becomes clear that activity G will take 15 days, which will impact the imposed project end date. The project team meets to perform root cause analysis to identify the cause of the variance and to plan schedule recovery with activities performed later in the schedule. Which of the following should ALWAYS be of this kind of meeting?

  1. Recommend corrective action
  2. WBS updates
  3. Activity list updates
  4. Schedule updates
Correct Answer

Q5. In which of the following contract types does the buyer have the most cost risk?

  1. Fixed price incentive fee (FPIF)
  2. Time and material (T&M)
  3. Cost plus award fee (CPAF)
  4. Cost plus percentage of costs (CPPC)
Correct Answer

Q6. Purchasing insurance is BEST considered an example of risk:

  1. Mitigation
  2. Transfer
  3. Acceptance
  4. Avoidance.
Correct Answer

Q7. You have received a proposal for an RFP that was sent to vendors. One of the vendors has proposed doing the project for $12,500. The cost for the project is $10,000, and their profit will be $2,500. Which type of contract is most suitable if the type of work is predictable and the requirements are well-defined and not likely to change?

  1. Cost Plus Fixed Fee
  2. Cost Plus Percentage of Cost
  3. Fixed price
  4. Cost Plus Incentive Fee
Correct Answer

Q8. All of the following are NOT parts of a project management plan EXCEPT:

  1. Baselines
  2. Milestone list
  3. Risk register
  4. Lessons learned
Correct Answer

Q9. A decision tree is a Perform Quantitative Risk Analysis technique. A decision tree is represented by a Decision Tree Diagram. The decision tree describes a situation under consideration, the implications of each of the available choices, and the possible scenarios. A Decision Tree Diagram shows how to make a decision among alternative capital strategies known as:

  1. Alternative nodes
  2. Question points
  3. Decision nodes
  4. Checkpoints
Correct Answer

Q10. In your weekly status reports, you report the earned value for the project. This information is essential for you and the stakeholders to gauge the progress of the project. What process group is the cost and schedule control part of?

  1. Closing
  2. Planning
  3. Executing
  4. Monitoring and Controlling
Correct Answer

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