Project management is an important skill for any professional. Being able to manage projects, resources, and teams effectively is crucial for organizations to achieve their goals. Testing your project management knowledge through quizzes is a great way to identify areas for improvement. In this blog post, we will provide the top 15 project management quiz questions along with answers to help you assess your PM skills.
The quiz covers key topics like scope, cost, quality, risk, and resource management. It also includes questions on Agile, Scrum, and PMP concepts. Whether you are just starting out in project management or a seasoned professional, this PM quiz can serve as a quick knowledge check to learn something new and re-evaluate your expertise. The quiz format makes it an easy and engaging way to brush up on core project management principles and standards.
So, let’s move on to the Top 15 Project Management Quiz Questions With Answers
Q1. Which of the following statements best describes the contemporary use of financial models and scoring models for project selection?
Select one:
a. Financial methods are preferred because they ensure alignment with the organization's strategic goals.
b. Scoring models are unreliable because they fail to consider financial factors.
c. One of these techniques is typically used to the exclusion of the other, due to time demands.
d. These methods are often used together to ensure financial and non-financial factors are both considered.Q2. Many writers have stated that for strategic objectives to be effective, they should be:
Select one:
a. resource based – to focus on the inputs
b. broad – to cover many dimensions of the business
c. measurable – to track progress
d. unachievable – to inspire maximum performanceQ3. All of the following statements concerning project portfolios are true EXCEPT:
Select one:
a. Portfolios usually include a mix of some high-risk, high-reward projects and some low-risk projects.
b. Portfolios cannot include operations and programs.
c. Each project in the portfolio should have a direct impact on the organization.
d. The projects in a portfolio are managed as a group to achieve strategic business objectives.Q4. All of the following represent appropriate sources to identify new potential projects EXCEPT:
Select one:
a. lessons learned from previous projects
b. the operations staff within the organization
c. industry and trade journals
d. existing and potential customersQ5. Which of the following statements correctly describes a weakness associated with the financial project selection model?
Select one:
a. Payback period models do not consider the profit to be realized after the costs are paid.
b. The Internal Rate of Return (IRR) method is difficult to use when a project has conventional cash flows.
c. The Net Present Value (NPV) method does not consider the time value of money.
d. The benefit-to-cost models favor projects which generate the smallest absolute return over a specified period.Q6. All of the following may be negotiated between a client company and a contractor EXCEPT:
Select one:
a. personnel assignments
b. selection criteria for scoring models
c. quality standards
d. the amount of money to be paid.Q7. Portfolio management helps an organization achieve its strategic goals in all of the following ways EXCEPT:
Select one:
a. managing ongoing projects
b. selecting the right projects
c. prioritizing work to be done
d. providing needed resourcesQ8. Payback period models do not consider the amount of profit that may be generated after the costs are paid.
Select one:
a. True
b. FalseQ9. The internal part of strategic analysis (elements within the project team's control) consists of asking what opportunities and threats are posed by competitors, suppliers, customers, regulatory agencies, technologies and so on.
Select one:
a. True
b. FalseQ10. Scoring models are very useful in providing input into the starting order of projects.
Select one:
a. True
b. FalseQ11. When a client company decides to engage an external contractor to perform project work, it must be prepared to submit a proposal and prepare a bid.
Select one:
a. True
b. FalseQ12. Strategic analysis is often called Strengths, Weaknesses, Opportunities and Threats (SWOT).
Select one:
a. True
b. FalseQ13. If an organization does not have the right capabilities, a project that may otherwise support organizational goals may be too difficult to successfully complete.
Select one:
a. True
b. FalseQ14. Strategic objectives describe both short- and long-term results that are desired, along with measures to determine their achievement.
Select one:
a. True
b. FalseQ15. To accomplish portfolio management, executives need to identify, select, prioritize, resource and govern an appropriate portfolio of projects and other work.
Select one:
a. True
b. False
Answers (Project Management Quiz Questions)
- d
- c
- b
- a
- a
- b
- a
- a
- b
- a
- b
- a
- a
- a
- a