most asked project management questions

Project management is an art. There are many tools, techniques, and processes that you need to understand to be good at it. One of the best ways to learn is through practice and drills. We have created a project management quiz where you can test your knowledge of project management.

Let’s get started with project management quiz questions with answers.

Bidder conferences are used to:

Select one:
a. Answer questions about the project prior to submittal of proposals
b. Answer questions about the project after contract award
c. Debrief the bidder on their performance after completion of the contract
d. Solicit pricing information from the bidders on proposed scope changes

During contract negotiations, the goal of the seller is to:

Select one:
a. Get the buyer to accept the greatest amount of risk
b. Get the largest possible profit margin regardless of the risk
c. Get the largest possible price for the contract
d. Negotiate a contract where the profit margin is commensurate with the risk the
contractor is expected to incur

Which of the following contract types has the greatest risk with the buyer?

Select one:
a. Cost sharing
b. Cost-Plus-Incentive-Fee
c. Firm-Fixed-Price
d. Fixed-Price-Incentive-Fee

The cost of renting a piece of equipment is $200 per day and the leasing cost is $5000 plus $100 per day. The breakeven cost between renting and leasing occurs at _ days.

Select one:
a. 30
b. 50
c. 100
d. 200

Which of the following is part of the responsibility of a contract administrator?

Select one:
a. Inspections and audits
b. Performance reporting (Documenting seller’s performance)
c. Approval of waivers
d. All of the above

Which type of cost-plus contract provides the seller with a guaranteed dollar-value profit rather than as a percentage?

Select one:
a. Cost-sharing
b. Cost-plus-award-fee
c. Cost-plus-fixed-fee
d. Cost-plus-incentive-fee

A covenant providing restrictions on certain proprietary knowledge is called a:

Select one:
a. Non compete clause
b. Non-disclosure clause
c. Non conformance clause
d. Penalty clause

In which of the following would the price of a possible contract not be included?

Select one:
a. Request for information (RFI)
b. Request for quotation (RFQ)
c. Request for proposal (RFP)
d. Invitation for bids (IFB)

Failure to exercise one’s activity in such a manner that a reasonable person would do in a similar situation is:

Select one:
a. Negligence
b. Liquidated damages
c. Breach of contract
d. Privity of contract

Billing the cost of repairs against a financially closed out project is called _.

Select one:
a. Back charging
b. Refinancing
c. Order of precedence
d. Arbitration

Answers

  1. a
  2. d
  3. b
  4. b
  5. d
  6. c
  7. b
  8. a
  9. a
  10. a