Project Cost Management | PMP Quiz

 



PMP Quiz contain set of 10 MCQ questions for Project Cost Management MCQ which will help you to clear beginner level quiz.

1. You are at a critical stage on your project. Unfortunately your senior technician and the solutions manager from your vendor are not getting along. What is the best thing to do?
   A. Ignore the situation as it is just a personal conflict
   B. Ask the vendor to replace the solutions manager
   C. Talk to each of them and tell them that it is clearly the other one’s fault
   D. Bring the two together to solve the problem
   
2. You are a project manager in a strong matrix organization. A team member on the project is consistently delivering her work packages late and below the required quality standards. The issue has been discussed with her several times already but no improvement has been visible. As the project manager you decide that it is time to employ coercive power. What measure will you implement?
   A. You punish her by removing the privilege to work from home for two days per week 
   B. You bargain with her to give her better assignments if she performs
   C. You discuss the situation with her line manager
   D. You ask the Human Resources Department to step in
3. You are meeting with a customer for initial discussions about a software implementation project. At the end of the day, the customer asks you for a general estimate of the project duration. Based on your experience with three similar past projects you estimate an 8-10 month implementation time frame. What is this type of estimation technique called?
   A. Three-Point Estimating
   B. Bottom-Up Estimating
   C. WAG
   D. Analogous Estimating
   
4. You are the project manager of a project in which you need to install a very sensitive machine. For some reason, this machine is not working properly and your senior engineer believes that there may be various factors (technical, environmental, construction-related, etc.) involved in the recurring breakdown. For your status report you would like to graphically display these various and possibly unrelated factors. What type of diagram illustrates this best?
   A. Control Chart
   B. Influence Diagram
   C. Ishikawa Diagram 
   D. Pareto Diagram
5. Which of the following processes does not have Organizational Process Assets as an input?
   A. Perform Integrated Change Control
   B. Close Project or Phase
   C. Collect Requirements   
   D. Define Activities
6. You have been assigned as the project manager of a highly strategic project which will either make or break your company. It is highly visible and sponsored directly by the Board of Directors who have decided that you need to have maximum control over all project resources. What is the best organization type to use in this case?
   A. Weak Matrix
   B. PMO
   C. Projectized
   D. Project Expeditor
7. Your team finished creating the initial version of the Risk Register during your latest workshop. What is the next thing that you should do?
   A. Define the probability of occurrence and the impact for each risk
   B. Identify the risk effects and assign a numerical rating to each
   C. Review cost planning to ensure that enough risk reserve is available
   D. Identify, analyze and plan for newly-arisen risks
8. If EV = $100, AC = $90, PV = $110 and BAC = $400, how much is the Cost Variance of a project?
   A. $300
   B. $40
   C. $20
   D. $10
   
9. You are on a team that has five members including you. How many communication channels do you personally have?
   A. 5
   B. 4
   C. 10
   D. 12
10. What is Quality according to the PMBOK Guide?
    A. The degree to which a set of inherent characteristics fulfills requirements
    B. The customer’s need to be involved in the process
    C. The process of identifying which quality standards are relevant to the project
    D. Quality is inspected not built into a result