PROJECT MANAGEMENT QUIZ 2 ----------RAJIV BHATNAGAR

1. The high risk and high vale projects are called

a. Pearls
b. Oysters
c. bread and butter project
d. White elephants
2. "Must to do" projects are called
a. Strategic Projects
b. All of the above
c. Operational Projects
d. Compliance Projects
3. Phase Estimating uses the following system over the life cycle of the project
a. None of the above
b. All of the above
c. One - time estimate
d. Three-time estimate
e. Two-time system
4. The length of time required to recover the initial cash outlay on the project taking into account time
value of money is called
a. Payback period
b. Discounted payback period
c. Return of Investment
d. Internal rate of return
5. If Internal rate of return is less than the cost of capital
a. Accept the project
b. Postpone the project
c. Indifferent
d. Reject the project

6. One of the most condition reasons why projects undergo scope change is
a. Poorly defined statement of work
b. Lack of Funding
c. Poor Work breakdown structure
d. Lack of resources

7. The lowest level of work break down structure is called

a. Work Package
b. Work Accounts
c. Lowest Deliverables
d. Deliverables
8.When work packages have significant uncertainty associated with the time or cost to complete, we
use
a. Phase Estimating
b. Bottom-up approach
c. Range estimating
d. Top-down approach
9 The document that officially sanctions the project is the
a. Cost-benefit analysis
b. Feasibility Study
c. Project Plan
d. Project Charter
10. Time - Constrain and Cost - Acceptable means
a. Time is fixed, cost overrun/under run is acceptable
b. Time is optimized, cost overrun/under run is not acceptable
c. Time is fixed , cost can be optimized
d. Time is fixed, cost is fixed

11.When the project size and scope are small, we prefer

a. Responsibility Matrix
b. Organization break down structure
c. Process break down structure
d. Work breakdown structure

12 The Bottom-up Approach for time and cost estimating is used when
a. Fixed price contract
b. Unstable Scope
c. High uncertainty in project
d. Strategic and decision-making
13 One of your contractors sends you an e-mail request to use high quality raw materials in your
project stating that this will be value-added and improve quality. What should be the project manager
do first?
a. Ask the contractor to put forth a change request
b. Change the work break down structure
c. Ask your sponsor for his or her opinion
d. Change the scope baseline
14 Delphi Method is used in the following estimating methods
a. Function Points
b. Consensus Method
c. Ratio Method
d. Apportion Method
15. Increase in unsecured loans and deposits will be tabulated under
a. Disposition of Funds
b. None of the above
c. Sources of Funds
d. All of the above

16 The source of many estimating risks is

a. Lack of management support during estimating
b. Poorly defined requirements
c. An inexperienced project manager
d. All of the above
17. The change control board, of which you are a member approves a significant scope change. The
first document that the project manager should updated would be the
a. Schedule
b. Scope baseline
c. Work break down structure
d. Budget
18. Which of the following is a valid way of evaluating the financial feasibility of a project
a. Net Present Value
b. All of the above
c. Internal rate of return
d. Return on Investment
19. The work breakdown structure "control points" for the management of a project are the
a. Activities
b. Work Packages
c. Constraints
d. Milestones
20. Estimating pitfalls can result from
a. All of the above
b. Poorly defined statement of work
c. Using the wrong estimating techniques
d. Failure to account for risks in the estimate

21. Top - down approach is used for time and cost estimating when
a. Fixed - price contract
b. Customer wants details
c. Cost and time are important
d. Unstable scope
22. For a project, if Net Benefit cost ratio is greater than 0
a. Indifferent
b. Postpone the project
c. Accept the project
d. Reject the project
23. A significant event in a project that occurs at a point in time is called
a. Milestones
b. Objective
c. Exclusions
d. Deliverables
24. Which of the following generally cannot be validated using a work breakdown structure
a. Quality control
b. Risk Management
c. Cost control
d. Schedule control
25. When an unusual amount of uncertainty surrounds a project, we use
a. Top-down approach
b. Range Estimating
c. Phase Estimating
d. Bottom-up approach