Questions on Project Management Fundamentals

Questions on Project Management Fundamentals

1.Which of the following is not a project?

1. Running an election campaign for a political candidate.
2. Building a bridge over a river
3. Pilot aircraft for a United flight.
4. Writing a book on Project Management

2. Which of the following is not correct about initial phase of a project?

1. The cost associated at the beginning of the project is highest
2. Stakeholders have maximum influence during this phase
3. The highest uncertainty is at this stage of the project.
4. All the above statements are correct

3. At which stage, does a typical project has maximum cost?

1. Initial stage
2. Middle stage
3. Final stage
4. Cost is same at all stages

4. At which stage, in a typical project do stakeholders have maximum influence?

1. Initial stage
2. Middle stage
3. Final stage
4. Shareholders have similar influence at all stages

5. You are the Project Managers of XYZ consultants. The Project team members are from Finance and HR departments. The team members report to Finance and HR Managers respectively, and you have limited control over them. What type of organizational hierarchy does XYZ consultants follow?

1. Matrix organization
2. Projectized organization
3. Functional organization
4. None of these

6. The Project Managers have maximum authority in which type of organization?

1. Weak Matrix organization
2. Balanced Matrix organization
3. Strong Matrix
4. Project Managers have same authority in the three types of organizations.

7. Which organization is closest to Functional organization?

1. Weak Matrix organization
2. Balanced Matrix organization
3. Strong Matrix
4. Projectized organization

8. Which of these is not one of the constraint of a project?

1. Scope
2. Resources
3. Team
4. Budget

9. There are two processes in the initiating process group. These are part of which knowledge area?

1. Project Cost Management
2. Project Scope Management
3. Project Time Managemen
4. Project Integration Management

10. Which of the following is a project?

1. Sending a weekly status report
2. Improving the roads of London for 2012 Olympics
3. Getting ready for office every day
4. Selling toys in a toy store

Answers

1. c. Projects must be a unique endeavor. Piloting a flight is a regular day-today operation, and not a project.

2. a. There is minimum requirement of personnel and hence minimum cost at the project initiation stage.

3. b. In the middle stages, the resources and cost usage is maximum.

4. a. It is easy to make changes to project goals and approach at the initial stage. Stake holders have maximum influence at this stage.

5. c. The team members report to Functional Managers.

6. c. In strong matrix organization, Project Managers have more authority.

7. a. Weak matrix organizations have a similar characteristics to Functional organizations.

8. c. Projects constraints are Scope, Resources, Quality, Schedule, Budget and Risk.

9. d. The two processes Develop Project Charter, and Develop Preliminary Project Scope statement are part of project integration management knowledge area.

10. b. Other operations are ongoing operations and not projects.

Questions on Project Risk Management

1. Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called?

1. Risk Management Plan
2. List of risks
3. Monte Carlo diagram
4. Risk Breakdown Structure

2. Which of the following statements is true about risks?

1. When evaluating risks their impact should be considered, however probability of occurrence is not important 
2. Risks if they happen always have negative impact and not positive
3. Risk register documents all the risks in detail
4. Risk response plan is another name for Risk Management Plan

3. Beta is the Project Manager of a Road construction project. During a project review, meta realizes that one particular risk has occured. To take appropriate action against risk that has happened, Beta needs to refer to which document?

1. Risk response plan
2. Risk management plan
3. Risk breakdown structure
4. Risk register

4. During which stage of Risk planning are risks prioritized based on probability and impact?

1. Identify Risks
2. Plan Risk responses
3. Perform Qualitative risk analysis
4. Perform Quantitative risk analysis

5. During which stage of Risk planning are modeling techniques used to determine overall effects of risks on project objectives for high probability, high impact risks?

1. Identify Risks
2. Plan Risk responses
3. Perform Qualitative risk analysis
4. Perform Quantitative risk analysis

6. Andrew is a Project Manager for Green Valley project. A risk management plan has been prepared for the project. Which of the following should Andrew do next?

1. Perform Qualitative risk analysis
2. Perform Quantitative risk analysis
3. Identify Risks
4. Plan Risk responses 

7. Which of the following processes has risk register as the primary output?

1. Plan Risk Management
2. Identify Risks
3. Monitoring and Control Risks
4. Perform Qualitative Risk Analysis

8. Five of the processes in Project Risk Management are from which process group?

1. Initiating
2. Planning
3. Executing
4. Monitoring and Control

9. John Strauss is a Project Manager for a reforestation project. To identify the risks involved, John sends a questionnaire to gather inputs from experts. Which technique is John using?

1. Delphi technique
2. Interviews 
3. Brain storming
4. Documentation review

10. Mathew is a Project Manager for software migration at a bank. A major risk that has been identified is attrition of resources. As a strategy to respond to this risk, Mathew, with support from Senior Management, provides good increments to his team members. What type of risk response is Mathew following?

1. Accept
2. Avoid
3. Transfer
4. Mitigate

11. Which of these is a valid response to positive risks?

1. Exploit
2. Mitigate
3. Enhance
4. Share

Answers

1. d. Hierarchical description of risks is called Risk Breakdown structure.

2. c. Risk register documents the risks in detail.

3. a. Beta needs to refer to the Risk response plan that documents responses to identified risks.

4. c. Risk probability and impact are defined during Qualitative risk analysis.

5. d.

6. c. Risk identification is performed after performing the risk management plan.

7. b. Process of Identify Risks has Risk register as the major output.

8. b. Five of the six processes in Project Risk Management are part of the Planning process group.

9. a. John is using the Delphi technique to identify risks.

10. d. Mathew is mitigating the risk by reducing the probability of risk happening

11. Risk mitigation is a response to negative risks and not positive risks. Positive risks may be responded by Exploit, Enhance, Share, Accept.

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