Enhance your Project Management and Contract Administration exam preparedness with our comprehensive MCQ practice set 7th 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!
Q241. What happens to functional department members once they are assigned to a project team? Ans: b) They become project-oriented
a) They specialize in their fields
b) They become project-oriented
c) They report to the PM directly
d) They take on senior roles
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Q242. Which role presents the events leading to the project award? Ans: b) Commercial manager
a) Project manager
b) Commercial manager
c) Procurement manager
d) Senior manager
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Q243. During which project phase does the project construction manager prepare the construction plan? Ans: b) Project initiation phase
a) Project execution phase
b) Project initiation phase
c) Project planning phase
d) Project closure phase
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Q244. What does an approved bidders list reflect from the procurement plan? Ans: d) Policies established
a) Regulatory compliance
b) Specific guidelines
c) Financial requirements
d) Policies established
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Q245. What is the final step in the development of the project schedule that integrates independent sub-schedules? Ans: c) Master project schedule
a) Subordinate project schedule
b) Detailed task list
c) Master project schedule
d) Functional schedule
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Q246. What are the types of drawings involved in production design? Ans: c) Piping and instrument drawings
a) Structural and architectural drawings
b) Piping and electrical drawings
c) Piping and instrument drawings
d) Mechanical and civil drawings
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Q247. Which method is used to develop a master project schedule with realistic milestones? Ans: b) Top-down approach
a) Bottom-up approach
b) Top-down approach
c) Linear scheduling
d) Iterative scheduling
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Q248. What will be evident if material deliveries are ahead of construction material required dates? Ans: c) Float
a) Acceleration
b) Lag
c) Float
d) Delay
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Q249. What is the effectiveness of a system based on continuous feedback and updating of data? Ans: d) Feedback loop
a) Iteration
b) Synchronization
c) Coordination
d) Feedback loop
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Q250. Which system involves dynamic analysis using PERT/CPM or network techniques? Ans: c) Dynamic system
a) Static system
b) Fixed system
c) Dynamic system
d) Agile system
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Q251. What is the purpose of “crashing” in a network analysis? Ans: c) To shorten project schedule
a) To reduce project scope
b) To extend project duration
c) To shorten project schedule
d) To optimize resource allocation
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Q252. How can “crashing” be achieved in a project schedule? Ans: b) By reducing resource usage
a) By extending activity time
b) By reducing resource usage
c) By compressing project scope
d) By increasing activity dependencies
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Q253. What is compared against the plan by entering the actual number of starts and AFC issues? Ans: d) Actual performance
a) Estimated budget
b) Benchmark values
c) Planned milestones
d) Actual performance
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Q254. What kind of curve is traced by a normal distribution? Ans: c) Bell-shaped curve
a) Exponential curve
b) Linear curve
c) Bell-shaped curve
d) Parabolic curve
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Q255. On what base does project cost control start if there is a “poor” estimate? Ans: d) Inaccurate estimate
a) Accurate estimate
b) Reliable estimate
c) Incomplete estimate
d) Inaccurate estimate
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Q256. At what level can cost control be applied based on the quality and detail of available information? Ans: c) Corresponding level
a) Minimum level
b) Maximum level
c) Corresponding level
d) Standard level
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Q257. What determines the cost of commodities in a project? Ans: b) Quality and quantity
a) Supply and demand
b) Quality and quantity
c) Market trends
d) Economic conditions
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Q258. How is “economic value addition” achieved? Ans: c) Through review and rework
a) Through optimization of resources
b) Through comprehensive analysis
c) Through review and rework
d) Through cost-cutting measures
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Q259. What is the first step towards cost control in a project? Ans: c) Man-hour estimate
a) Material estimation
b) Budget allocation
c) Man-hour estimate
d) Resource scheduling
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Q260. How is the initial field labor man-hour estimate prepared before converting it to the project labor man-hours? Ans: a) Standardized labor hours
a) Standardized labor hours
b) Budgeted labor hours
c) Project-specific labor hours
d) Actual labor hours
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Q261. What should be in place to account for unforeseen events in a project? Ans: b) Contingency plan
a) Risk assessment
b) Contingency plan
c) Change management
d) Crisis response
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Q262. What should be applied equally by all project team members to ensure successful change implementation? Ans: b) Resistance
a) Flexibility
b) Resistance
c) Communication
d) Adaptability
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Q263. When should a vendor be called in for a “pre-commitment” meeting? Ans: a) After contract signing
a) After contract signing
b) Before project initiation
c) During project execution
d) During project closure
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Q264. When are pre-award meetings held with shortlisted bidders? Ans: c) Before contract award
a) Before project initiation
b) After contract signing
c) Before contract award
d) After project completion
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Q265. What does a good project manager do in relation to decisions made unilaterally by one group of the team without careful consideration of the effects on overall project costs, schedules, and quality? Ans: c) Minimizes such decisions
a) Encourages such decisions
b) Supports such decisions
c) Minimizes such decisions
d) Embraces such decisions
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Q266. What must a project manager possess to induce progress and achieve a successful project? Ans: d) Stick
a) Incentives
b) Vision
c) Motivation
d) Stick
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Q267. What types of data are typically required as input by project management software? Ans: a) Scheduling data, Budget data, Resource data
a) Scheduling data, Budget data, Resource data
b) Scheduling data, Cost data, Quality data
c) Budget data, Resource data, Quality data
d) Cost data, Budget data, Resource data
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Q268. Which architecture of ERP software allows seamless integration with project management (PM) software? Ans: c) Open architecture
a) Closed architecture
b) Proprietary architecture
c) Open architecture
d) Exclusive architecture
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Q269. MS Project is a product under which Microsoft suite? Ans: b) Microsoft Office
a) Microsoft Windows
b) Microsoft Office
c) Microsoft Dynamics
d) Microsoft SharePoint
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Q270. Which PM software is commonly used in project management? Ans: b) Primavera Project Planner (P3)
a) Microsoft Project
b) Primavera Project Planner (P3)
c) Trello
d) Asana
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Q271. In modern times, how is engineering documentation primarily stored? Ans: b) Electronic (soft) form
a) Paper format
b) Electronic (soft) form
c) Microfilm
d) Photographic format
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Q272. Which department is typically responsible for storage, retrieval, and issuance of engineering documents? Ans: c) Documentation Centre
a) Engineering Department
b) Procurement Department
c) Documentation Centre
d) Quality Control Department
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Q273. What type of contracts often include clauses for automatic renewal if notice is not provided before a defined period? Ans: b) Buy-side contracts
a) Vendor contracts
b) Buy-side contracts
c) Sell-side contracts
d) Service contracts
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Q274. What provisions are often included in contracts on both buy-side and sell-side? Ans: b) Cost reductions for achievements, Penalty charges for non-achievements
a) Bonuses for achievements, Penalties for non-achievements
b) Cost reductions for achievements, Penalty charges for non-achievements
c) Bonus payments for non-achievements, Cost reductions for achievements
d) Penalty charges for achievements, Bonus payments for non-achievements
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Q275. What is a primary use of contracts in managing financial information? Ans: a) Ensuring compliance
a) Ensuring compliance
b) Tracking expenses
c) Managing investments
d) Monitoring assets
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Q276. According to contract management experts, what can’t organizations control if they can’t control their contracts? Ans: c) Businesses
a) Finances
b) Customers
c) Businesses
d) Employees
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Q277. What aspect of business requirements are often focused on by ERP systems? Ans: c) Back-office operations
a) Customer needs
b) Front-end operations
c) Back-office operations
d) Marketing strategies
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Q278. What should be given serious consideration during a contract management implementation to ensure system integration? Ans: c) Software compatibility
a) Documentation
b) Data storage
c) Software compatibility
d) User training
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Q279. What process must suppliers go through before a commercial contract is awarded? Ans: b) Bidding process
a) Negotiation process
b) Bidding process
c) Approval process
d) Review process
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Q280. What institute suggests that central procurement departments control over 80% of an organization’s purchasing activity for maximum effectiveness? Ans: b) Chartered Institute of Purchasing and Supply
a) Project Management Institute (PMI)
b) Chartered Institute of Purchasing and Supply
c) International Association for Contract and Commercial Management (IACCM)
d) Institute of Supply Chain Management (ISCM)
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Q281. What is a common sentiment among salespeople when dealing with the administration that follows large deals? Ans: c) Dislike
a) Excitement
b) Joy
c) Dislike
d) Indifference
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Q282. Whose responsibility is it to manage contracts at an enterprise level? Ans: d) Entire organization
a) Project managers
b) Legal department
c) Procurement team
d) Entire organization
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Q283. How do most organizations input key contract data into their systems? Ans: b) Manually
a) Automatically
b) Manually
c) Semi-automatically
d) Through AI algorithms
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Q284. How do external parties typically conduct contract negotiations? Ans: d) Via email
a) In-person meetings
b) Telephonic conversations
c) Through written correspondence
d) Via email
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Q285. What can build a solid base of reliable vendors for future collaborations? Ans: d) Thorough contracting
a) Negotiations
b) Communication
c) Quality assessment
d) Thorough contracting
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Q286. What kind of vendors will be part of a solid base for future collaborations? Ans: c) Reliable
a) Innovative
b) Economical
c) Reliable
d) Proactive
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