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This article is based on the Multiple Choice Questions asked in the University Exam for the subject Project Management - Institute Level Elective.
These MCQs were asked in the 2021 Mumbai University-BE-Semester 8 Exam for the subject- Project Management. Project Management is an Institute Level Elective and is common to all the branches. The question paper for each cluster is different. These MCQs were asked in the examination of one cluster. The question paper had 20 MCQs of 2 marks each.
| Q 1) | Which of the following is the most important element of Project Management Plan that is useful in Planning process? |
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| a. | Risk Management activities |
| b. | Quality Assurance activities |
| c. | Budget Control activities |
| d. | Activity Resource requirements |
Solution: d) Activity Resource requirements
| Q 2) | CPM is an acronym for ________. |
|---|
| a. | Control Path Method |
| b. | Critical Path Method |
| c. | Cohesion Path Method |
| d. | Control Path Model |
Solution: b) Critical Path Method
| Q 3) | A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? |
|---|
| a. | Cost Variance |
| b. | Management Overhead |
| c. | Management Contingency Reserve |
| d. | Schedule Variance |
Solution: c) Management Contingency Reserve
| Q 4) | Activity Definition is typically performed by which of the following __________. |
|---|
| a. | Project Manager who created the WBS |
| b. | Project Team Members responsible for the work package |
| c. | Project Officer |
| d. | Project Stakeholder |
Solution: b) Project Team Members responsible for the work package
| Q 5) | Expected risks in a project is represented in a tabular form by ________. |
|---|
| a. | Risk Table |
| b. | Assessment Table |
| c. | Time Table |
| d. | Round Table |
Solution: b) Assessment Table
| Q 6) | A project has a 60% chance of a $100,000 profit and a 40 percent of a $100,000 loss. The Expected Monetary Value for the project is __________. |
|---|
| a. | $100,000 profit |
| b. | $60,000 loss |
| c. | $20,000 profit |
| d. | $40,000 loss |
Solution: c) $ 20,000 profit
| Q 7) | The time taken to break even or pay back the initial investment is called as _______. |
|---|
| a. | Back period |
| b. | Payback period. |
| c. | Cash back period. |
| d. | Rate of Return. |
Solution: b) Payback period.
| Q 8) | The expenditure and income taken place in a project is indicated by _______. |
|---|
| a. | Cash flow forecast |
| b. | Cost analysis |
| c. | Fund flow |
| d. | Technical forecast |
Solution: a) Cash flow forecast
| Q 9) | The method which is carried out to calculate the earliest dates on which each activity may be started and completed is _________. |
|---|
| a. | Backward pass |
| b. | Forward pass |
| c. | No pass. |
| d. | Increasing pass. |
Solution: b) Forward pass
| Q 10) | The shortest time in which we could expect to complete the activity, barring outright miracles is called as ______. |
|---|
| a. | Optimistic Time |
| b. | Pessimistic Time |
| c. | Most Likely Time |
| d. | Shortest Time |
Solution: a) Optimistic Time
| Q 11) | Which of these is not one of the constraints of a project? |
|---|
| a. | Scope |
| b. | Team |
| c. | Resources |
| d. | Budget |
Solution: b) Team
| Q 12) | Which is not one of the stages of Project Management Lifecycle? |
|---|
| a. | Definition and Conceptualization |
| b. | Management and Measurement |
| c. | Planning and Budgeting |
| d. | Execution and Control |
Solution: b) Management and Measurement
| Q 13) | Activities A, B, and C are the immediate predecessors for Y activity. If the earliest finish times for the three activities are 12, 15, and 10, then the earliest start time for Y will be _______. |
|---|
| a. | 10 |
| b. | 15 |
| c. | 12 |
| d. | 100 |
Solution: ) 15
| Q 14) | The critical path is referred to as the _________. |
|---|
| a. | Most direct path from the beginning node to the ending node |
| b. | Shortest path in terms of time |
| c. | Longest path in terms of time |
| d. | Path with the largest amount of slack time |
Solution: c) Longest path in terms of time
| Q 15) | A schedule activity may begin 10 days before the predecessor activity finishes. This is an example of _______. |
|---|
| a. | Finish-to-Start |
| b. | Start-to-Finish |
| c. | Start-to-Start |
| d. | Finish-to-Finish |
Solution: a) Finish-to-Start
| Q 16) | Resource requirement in project becomes constant while the project is in its what progress stage _________. |
|---|
| a. | 40 to 55% |
| b. | 55 to 70% |
| c. | 70 to 80% |
| d. | 80 to 95% |
Solution: d) 80 to 95%
| Q 17) | What limits the options of the project team? |
|---|
| a. | Constraints |
| b. | Assumptions |
| c. | Technology |
| d. | Deliverables |
Solution: a) Constraints
| Q 18) | The difference between the cumulative earned value ofthe work performed and the cumulative actual cost is known as ______. |
|---|
| a. | Cost performance index |
| b. | Cost variance |
| c. | Budgeted costs |
| d. | Cost quality index |
Solution: b) Cost variance
| Q 19) | Which of the following does NOT generate changes to the Project documents? |
|---|
| a. | Define Activities |
| b. | Sequence Activities |
| c. | Estimate Activity Resources |
| d. | Estimate Activity Durations |
Solution: a) Define Activities
| Q 20) | If the Earned Value is equal to Actual Cost, it means _______. |
|---|
| a. | Project is on budget and on schedule |
| b. | Schedule variance index is 1 |
| c. | There is no schedule variance |
| d. | There is no cost variance |
Solution: c) There is no schedule variance
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