Enhance your Project Management and Contract Administration exam preparedness with our comprehensive MCQ practice set and quiz. Test your knowledge, master key concepts, and boost your confidence for success. Get ready to excel in your studies with expertly crafted questions. Start practicing today!
Q1. Select the most appropriate option Ans: B) Project management myths
Most software project managers practice a lot of management techniques that are of doubtful authenticity are called
A) Project management tools
B) Project management myths
C) Project management thumb rules
D) Project management fundamentals
Answer
Q2. Select the most appropriate option Ans: C) Allocation of Contingency Reserves
While doing risk response planning, you realize that there is a very critical risk which may have a high impact on the project completion. So, you create a fallback plan which could include any of the following conditions EXCEPT
A) Subcontracting the project to an outside Vendor
B) Developing Alternative Options
C) Allocation of Contingency Reserves
D) Allocation of Contingency Reserves
Answer
Q3. Select the most appropriate option Ans: C) The project is over budget and behind schedule
Earned value analysis can be used for measuring the project performance. Project managers use this analysis to plan for risks based on the actual cost, schedule, and progress of the work. During the executing phase, if a project has negative values for the cost variance and the schedule variance, which of the following would most accurately represent the project’s status
A) The project is ahead of schedule and under budget
B) The project is behind schedule and under budget
C) The project is over budget and behind schedule
D) The project is ahead of schedule and over budget
Answer
Q4. Select the most appropriate option Ans: A) Critical Path Method, GERT, Resource Requirements
During the schedule development process, the Project Manager may have to go through several iterations of the schedule before establishing the schedule baseline. All of the following are tools and techniques that may be used during this process
A) Critical Path Method, GERT, Resource Requirements
B) Resource Levelling Heuristics, Mathematical Analysis, Calendars
C) Duration compression, Resource Levelling Heuristics, PERT
D) GERT, PERT, Leads and Lags
Answer
Q5. Choose the right option – The question may have more than one correct answer. Ans: B) Home office overheads for accommodation, facilities and no chargeable support staff
Home Office costs include the following
A) Salaries and benefits of home office personnel
B) Home office overheads for accommodation, facilities and no chargeable support staff
C) Maintenance cost of Plant
D) Recruitment cost
Answer
Q6. Select the most appropriate option Ans: A) Project Management
A comprehensive project procedure is necessary for effective
A) Project Management
B) Profit Management
C) Loss Management
D) Client Management
Answer
Q7. State whether the given statement is true or false Ans: A) true
A major project is cut down into a number of activities and these activities are arranged in a logical sequence of operation.
A) true
B) false
Answer
Q8. Select the most appropriate option Ans: B) Procurement cycle
The first step in the development of the procurement schedule is to establish ?
A) Design cycle
B) Procurement cycle
C) Engineering cycle
D) Control cycle
Answer
Q9. State whether the given statement is true or false Ans: A) true
The approved bidders list is set up by using project procedures for each category of equipment, material, and service.
A) true
B) false
Answer
Q10. Select the most appropriate option Ans: B) Residual Risks
Risks because of implementing a risk response are called
A) Unidentifiable Risks
B) Residual Risks
C) Secondary Risks
D) Accepted Risks
Answer
Q11. Select the most appropriate option Ans: B) A ball park estimate
An order of magnitude estimate is also known as
A) Control estimate
B) A ball park estimate
C) Conceptual estimate
D) Preliminary estimate
Answer
Q12. State whether the given statement is true or false Ans: A) true
A suitable contingency or management reserve needs to be included in the capital cost estimates.
A) true
B) false
Answer
Q13. Select the most appropriate option Ans: B) Earned Value Analysis
EVA stands for
A) Economic value addition
B) Earned Value Analysis
C) Economic value addiction
D) Economic vulnerability addition
Answer
Q14. Select the most appropriate option Ans: B) a,b,d
The basic areas to which the project numbering system and procedures are applied are:
a Tagging and identification of equipment and materials
b Numbering of technical documents, specifications, data sheets, drawings, requisitions, and purchase orders
c Procurement commodity codes
d Scheduling activities in engineering, procurement, and construction
A) All are correct
B) a,b,d
C) b,candd
D) b,d
Answer
Q15. State whether the given statement is true or false Ans: A) true
Nowadays, both “PERT” and “CPM” are used and these techniques can be generalized as Network Planning.
A) true
B) false
Answer
Q16. State whether the given statement is true or false Ans: B) false
Time flows from left to right of an arrow, therefore, an arrow joins a lowered numbered event to a higher number event.
A) true
B) false
Answer
Q17. Select the most appropriate option Ans: C) Activity sequencing
The major process in project integration does not include :
A) Project plan development
B) Integrated change control
C) Activity sequencing
D) Project plan execution
Answer
Q18. Select the most appropriate option Ans: B) 10 to 20
On completion of Project engineering when final drawings and bills of materials have been completed and all material has been purchased, What percentage of accuracy is required in a detailed estimate-
A) 5 to 10
B) 10 to 20
C) 30 to 40
D) 40 to 50
Answer
Q19. Select the most appropriate option Ans: D) Extension
What is one of the ways that a contract typically does not end?
A) Successful performance
B) Mutual agreement
C) Breach
D) Extension
Answer
Q20. Select the most appropriate option Ans: C) Support person
In a Weak Matrix organization, the role of a project manager is that of a –
A) Coordinator and expeditor
B) Project manager with considerable authority
C) Support person
D) Functional manager
Answer
Q21. Select the most appropriate option Ans: B) To find out means to complete the project at an earlier time schedule than planned or reworked time while updating.
What is the reason for Crashing of a network ?
A) To find out means to complete the project at a later time schedule than planned or reworked time while updating.
B) To find out means to complete the project at an earlier time schedule than planned or reworked time while updating.
C) To find out means to complete the project at a possible time schedule than planned or reworked time while updating.
D) To find out means to complete the project at the required time schedule than planned or reworked time while updating.
Answer
Q22. Select the most appropriate option Ans: B) Verifying records including final specifications
Administrative closure includes all the following expert:
A) Documentation of lesson learned
B) Verifying records including final specifications
C) Formal written notice to the contractor of project completion.
D) A collection of project reports
Answer
Q23. Select the most appropriate option Ans: B) Project Manager / Project Management Team
Determining and delivering the required levels of quality is the responsibility of
A) Project Sponsor
B) Project Manager / Project Management Team
C) Project Team
D) All Stakeholders in the project
Answer
Q24. Select the most appropriate option Ans: D) Straight line
Which of the following is an indirect cost?
A) Units of production
B) Sum of years digit
C) Declining balance
D) Straight line
Answer
Q25. Select the most appropriate option Ans: C) Line manager
Managers responsible for ensuring that quality and methods are compatible with the schedule and cost objectives established in the project plan are
A) Departmental manager
B) Committee manager
C) Line manager
D) Supervisor
Answer
Q26. Select the most appropriate option Ans: D) Project charter is issued by the project sponsor
All these statements about the project charter are correct except
A) Project charter includes or references the business need and product description
B) Project Charter provides authority to the project manager
C) Project charter formally authorizes a project.
D) Project charter is issued by the project sponsor
Answer
Q27. Select the most appropriate option Ans: A) Feedstock
Raw material to supply or fuel a machine or industrial process is known as
A) Feedstock
B) Operating stock
C) Supply stock
D) Industrial stock
Answer
Q28. Select the most appropriate option Ans: B) Control ensures adherence to contracting best practices through a centralized, searchable contract storage repository
Important business benefits for establishing a contract compliance system
A) More revenue
B) Control ensures adherence to contracting best practices through a centralized, searchable contract storage repository
C) More resources
D) More profits
Answer
Q29. Select the most appropriate option Ans: B) Strategic Advantage
Advantages related to technology, products, your operations, your capabilities, and/or your people that lead to the potential for a sustainable competitive advantage
A) Organizational capability
B) Strategic Advantage
C) Technological Advantage
D) Operational advantage
Answer
Q30. Select the most appropriate option Ans: D) Objectives
What does project plans usually prepared by the project managers define
A) Objectives and priorities
B) Objectives, Priorities, and philosophy
C) Philosophy
D) Objectives
Answer
Q31. Select the most appropriate option Ans: B) A preliminary or factored estimate from equipment costs may be prepared with an accuracy of between 15 to 25 percent
What is true about accuracy of estimates related to project definition at stage 1
A) A preliminary or factored estimate from equipment costs may be prepared with an accuracy of between 20 to 25 percent
B) A preliminary or factored estimate from equipment costs may be prepared with an accuracy of between 15 to 25 percent
C) A preliminary or factored estimate from equipment costs may be prepared with an accuracy of between 15 to 20 percent
D) A preliminary or factored estimate from equipment costs may be prepared with an accuracy of between 25 to 30 percent
Answer
Q32. Select the most appropriate option Ans: B) 70 percent
According to the Chartered Institute of Purchasing and Supply by what percentage the organization should control their purchasing activity to achieve the greatest effectiveness
A) 60 percent
B) 70 percent
C) 80 percent
D) 90 percent
Answer
Q33. Select the most appropriate option Ans: A) Procurement cycle
The first step in the development of the procurement schedule is to establish
A) Procurement cycle
B) Operating cycle
C) Maintenance cycle
D) Construction cycle
Answer
Q34. Select the most appropriate option Ans: B) Contract map
Diagram of the most important contract elements is known as
A) Coordinative map
B) Contract map
C) Consultation map
D) Negotiation map
Answer
Q35. Select the most appropriate option Ans: A) 0 to 100 percent
A basic “S” curve is drawn on a grid with a horizontal axis showing percentage calendar time from
A) 0 to 100 percent
B) 0 to 50 percent
C) 0 to 80 percent
D) 0 to 90 percent
Answer
Q36. Select the most appropriate option Ans: B) Project execution
The third phase of the project management process, in which the plans created in the prior phases (project initiation and planning) are put into action
A) Project scheduling
B) Project execution
C) Procurement cycle
D) Operating cycle
Answer
Q37. Select the most appropriate option Ans: A) Reducing the time for activities yet to be done by employing additional resources with inevitable additional cost
Crashing of a network is to find out means to complete the project at an earlier time schedule than planned or reworked time while updating. This can be achieved through
A) Reducing the time for activities yet to be done by employing additional resources with inevitable additional cost
B) Adding the time for activities yet to be done by employing additional resources with inevitable additional cost
C) Adding the time for activities yet to be done by employing additional resources with no cost
D) Adding the time for activities done in the past by employing additional resources with inevitable additional cost
Answer
Q38. Select the most appropriate option Ans: C) CPM
The technique developed as a management control system by a research team for Polaris Atomic Submarine Project by the U.S. Navy in 1957–59.
A) PERT
B) Decision theory
C) CPM
D) Queuing theory
Answer
Q39. Select the most appropriate option Ans: D) Comprehensive project procedure
Necessary for effective project management is
A) Comprehensive design of the project
B) Comprehensive outline of the procedure
C) Comprehensive guideline of the project
D) Comprehensive project procedure
Answer
Q40. Select the most appropriate option Ans: A) Examining the project definition stage for each code of accounts and applying average estimating accuracy factors appropriate for the specific project
How can the average contingency be determined
A) Examining the project definition stage for each code of accounts and applying average estimating accuracy factors appropriate for the specific project
B) Examining the project growth stage for each code of accounts and applying average estimating accuracy factors appropriate for the specific project
C) Examining the project definition stage for each code of accounts and applying total estimating accuracy factors appropriate for the specific project
D) Examining the project definition stage for each code of accounts and applying average estimating profitability factors appropriate for the specific project
Answer
