123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899100 PROJECT MANAGEMENT You are welcome to Lakewood Business School Examination Portal We are delighted to have you here and wish you the very best as you embark on an exciting journey toward a rewarding career with us. Online Examinations Our online assessments are designed to evaluate your understanding of the training materials and ensure your readiness for the next step in your professional development. Here's what you need to know: Format: The assessment consists of 100 multiple-choice questions. Pass Mark: A minimum score of 50% is required to pass. Instant Results: Your answers will be automatically graded, allowing you to immediately see your results. Retake Option: If you don’t pass on your first attempt, don’t worry! You can retake the exam and try again. Need Assistance? Whether you are currently enrolled on our platform or seeking information, our dedicated support team is here to help. Feel free to reach out to us with any inquiries at admission@lwbschool.org.uk Thank you for choosing Lakewood Business School. We are committed to supporting your growth and success. 1 / 100 Which is a push communication method? A) Shared folder B) In-person meeting C) Email D) Phone call 2 / 100 What is a WBS dictionary? A) A glossary of Agile terms B) List of completed milestones C) Detailed description of each WBS component D) Budget breakdown 3 / 100 The PMBOK Guide includes how many knowledge areas? A) 5 B) 10 C) 7 D) 12 4 / 100 In procurement, a Request for Proposal (RFP) is used to: A) Hire full-time staff B) Solicit bids from vendors C) Reduce taxes D) Track revenue 5 / 100 What is parametric estimating? A) Based on expert guess B) Based on historical analogy C) Based on statistical relationships and data D) Based on team size 6 / 100 What does the acronym SMART stand for in goal setting? A) Strategic, Measurable, Available, Responsive, Timely B) Specific, Measurable, Achievable, Relevant, Time-bound C) Scope, Manageable, Agreed, Reasoned, Tested D) Simple, Mapped, Aligned, Reported, Timed 7 / 100 What’s a risk trigger? A) A budget variance B) A stakeholder conflict C) An indicator that a risk is about to occur D) A contract clause 8 / 100 What is a key goal of project procurement management? A) Stakeholder analysis B) Vendor selection and contract administration C) Team formation D) Budgeting for HR 9 / 100 What is the purpose of control limits on a control chart? A) Measure budget B) Define acceptable process variation C) Plan quality D) Reduce team size 10 / 100 Which chart helps visualize resource allocation over time? A) Scatter plot B) Pareto chart C) Resource histogram D) Ishikawa diagram 11 / 100 Which document outlines how communication will occur in a project? A) Stakeholder register B) Communications Management Plan C) RACI chart D) Risk matrix 12 / 100 The triple constraint in project management includes: A) Budget, authority, delegation B) Scope, time, cost C) Quality, skills, communication D) Task, reporting, review 13 / 100 In project time management, what does a lead indicate? A) Delay in predecessor B) Overlapping successor task before predecessor completes C) Cost escalation D) Resource leveling 14 / 100 Which of the following is not part of the project life cycle? A) Planning B) Executing C) Resource onboarding D) Closing 15 / 100 In a matrix organization, project managers typically: A) Have full authority B) Have no authority C) Share authority with functional managers D) Hire all team members 16 / 100 How do you handle stakeholders with high power and low interest? A) Ignore them B) Manage closely C) Keep satisfied D) Monitor only 17 / 100 What is a project milestone chart used for? A) Assigning team roles B) Showing project budget C) Tracking significant events D) Listing quality goals 18 / 100 What type of dependency is mandatory and legally or contractually required? A) Discretionary B) External C) Mandatory D) Optional 19 / 100 What does a burn-down chart show? A) Quality assurance metrics B) Risks by likelihood C) Work remaining in a sprint D) Contractual obligations 20 / 100 What is a stakeholder register used for? A) Tracking employee timesheets B) Listing project scope C) Recording stakeholder details and expectations D) Storing lessons learned 21 / 100 What’s the key value in Agile? A) Processes over people B) Comprehensive documentation C) Responding to change over following a plan D) Contract negotiation 22 / 100 In resource planning, which is most crucial for task fit? A) Age of the employee B) Communication speed C) Skill and experience D) Years in project team 23 / 100 What is the 100% Rule in WBS creation? A) WBS must be approved 100% by sponsors B) The top 100 tasks must be listed C) Each level must represent 100% of the parent D) Work packages must be 100% complete 24 / 100 Which conflict resolution style seeks win-win outcomes? A) Avoidance B) Forcing C) Collaboration D) Withdrawal 25 / 100 In which phase is project scope finalized? A) Initiation B) Execution C) Planning D) Closing 26 / 100 Which of the following best defines quality assurance? A) Identifying project risks B) Evaluating deliverables C) Ensuring quality processes are followed D) Preparing financial statements 27 / 100 In earned value management, what does EV stand for? A) Estimated Variance B) Earned Value C) Estimated Value D) Economic Volume 28 / 100 In a project, assumptions are: A) Guaranteed facts B) Approved budgets C) Factors considered true without proof D) Scope exclusions 29 / 100 What is Monte Carlo simulation used for in project risk? A) Determining leadership style B) Estimating outcome probability through random sampling C) Conflict resolution D) Quality improvement 30 / 100 Earned Value Management (EVM) is primarily used in which phase? A) Closing B) Planning C) Execution D) Monitoring 31 / 100 What is the primary purpose of project integration management? A) Manage financial systems B) Combine and coordinate all project elements C) Design quality systems D) Track employee hours 32 / 100 The Pareto principle in quality suggests: A) 20% of causes lead to 80% of effects B) All defects are equal C) Quality can’t be measured D) 100% perfection is required 33 / 100 What does the “S” in OGSM stand for? A) Stakeholders B) Scope C) Strategies D) Sustainability 34 / 100 What is the best way to handle scope creep? A) Ignore minor changes B) Fire team members C) Enforce change control process D) Let client decide scope 35 / 100 What does a stakeholder cube visually represent? A) Budget estimates B) Schedule slippage C) Stakeholder influence, impact, and interest D) Task dependency 36 / 100 What is a sprint retrospective? A) Client review B) Review of past lessons C) Meeting to reflect and improve next sprint D) Risk analysis 37 / 100 What is a milestone in project scheduling? A) A type of risk B) A significant event or achievement C) A task description D) A project tool 38 / 100 Which KPI tool compares actual performance against planned? A) Monte Carlo B) SWOT C) Earned Value D) Budget Summary 39 / 100 What does a control chart detect? A) Process stability B) Scope creep C) Budget loss D) Resource duplication 40 / 100 Scope creep is best defined as: A) Increase in cost estimates B) Gradual uncontrolled expansion of project scope C) Risk analysis error D) Schedule misalignment 41 / 100 What is the main benefit of project closure documentation? A) Reduces conflict B) Ensures lessons are captured and used C) Increases budget D) Starts new procurement 42 / 100 Which contract type adjusts for market inflation? A) Time and Materials B) Fixed Price C) Cost Plus Incentive D) Fixed Price with Economic Price Adjustment 43 / 100 Which technique is used for risk probability and impact assessment? A) Control chart B) Scatter diagram C) Risk matrix D) Monte Carlo 44 / 100 Which PM certification is globally recognized from PMI? A) CAPM B) PMP C) Six Sigma Black Belt D) ISO 9001 45 / 100 What tool is used to identify the root cause of a problem? A) Pareto Chart B) Fishbone Diagram (Ishikawa) C) Flowchart D) Gantt chart 46 / 100 The main focus of procurement management is: A) Hiring B) Vendor and contract handling C) Project audits D) Sprint planning 47 / 100 What is the outcome of the Monitor and Control phase? A) Adjusting team structure B) Project deliverables C) Measuring and reporting performance D) Hiring consultants 48 / 100 Who is ultimately responsible for project success? A) Contractor B) Sponsor C) Project Manager D) Functional Manager 49 / 100 Project success is primarily defined by: A) Team size B) Document volume C) Meeting objectives on time, within budget, and to quality D) Manager opinion 50 / 100 What is the output of risk identification? A) Contingency plan B) Risk Register C) Lessons log D) SWOT 51 / 100 What does CPI > 1 indicate in Earned Value Management? A) Cost overrun B) Cost performance is on budget C) Project is under budget D) Project is behind schedule 52 / 100 In Agile, what is a story point? A) Actual hours B) Relative measure of effort C) Task duration D) Expense 53 / 100 Which chart shows dependencies and sequence of activities? A) WBS B) Gantt C) Network diagram D) Flowchart 54 / 100 Who determines project success criteria? A) Functional manager B) Sponsor and stakeholders C) Procurement officer D) Team lead 55 / 100 What is float (slack) in project scheduling? A) Time an activity can delay without delaying the project B) Time allocated to risk C) Budget adjustment D) Resource downtime 56 / 100 What’s the role of the project management plan? A) Manage external vendors B) Direct project execution and control C) Write code D) Replace contracts 57 / 100 What is used to visualize stakeholder engagement over time? A) RAID log B) Gantt chart C) Stakeholder engagement assessment matrix D) RACI 58 / 100 The PMBOK defines project integration as: A) Team-building exercise B) Combining and coordinating processes and knowledge areas C) Simplifying reporting D) Avoiding stakeholder reviews 59 / 100 What is the main benefit of time management in projects? A) Client satisfaction B) Cost increase C) Larger teams D) Quality reduction 60 / 100 What does a Project Scope Statement include? A) Team salaries B) Deliverables, assumptions, and constraints C) Invoice list D) Gantt chart 61 / 100 Which methodology emphasizes iterative work cycles? A) PRINCE2 B) Waterfall C) Agile D) Critical Path 62 / 100 What is a benefit of stakeholder mapping? A) Assigning job roles B) Prioritizing engagement strategy C) Preparing WBS D) Creating budget 63 / 100 What does the term “gold plating” mean in project delivery? A) Delivering below standard B) Adding unnecessary features beyond scope C) Inflating costs D) Purchasing expensive tools 64 / 100 Which document captures the rationale, objectives, and goals of a project? A) Issue Log B) Business Case C) WBS Dictionary D) Risk Register 65 / 100 The PMBOK Guide defines how many process groups? A) 3 B) 7 C) 5 D) 10 66 / 100 In Agile methodology, who is responsible for maximizing product value? A) Team Lead B) Scrum Master C) Product Owner D) Project Sponsor 67 / 100 What is a risk appetite? A) The maximum cost of a risk B) Tolerance level for risk an organization is willing to accept C) Probability of failure D) Appetite for contingency planning 68 / 100 What is a deliverable? A) A risk mitigation plan B) A required document C) A measurable and verifiable project output D) A budget report 69 / 100 What is a procurement audit? A) A cost-benefit analysis B) A review of procurement processes and contract compliance C) A labor union report D) Marketing tool 70 / 100 Which project document defines success criteria? A) Risk Register B) Quality Policy C) Project Charter D) WBS 71 / 100 Which document is usually produced during the initiating phase? A) WBS B) Stakeholder Register C) Schedule Baseline D) Quality Checklist 72 / 100 What is a constraint in project management? A) Unlimited resource B) Benefit or gain C) Limiting factor like time, cost, or scope D) Deliverable 73 / 100 What is the primary purpose of stakeholder analysis? A) To design the project budget B) To identify stakeholder influence and interests C) To assign job titles D) To generate project requirements 74 / 100 Which style focuses on inspiration and team vision? A) Transformational Leadership B) Transactional Leadership C) Laissez-Faire D) Authoritarian 75 / 100 Which document helps track schedule performance? A) Project charter B) Activity list C) Gantt chart D) Work authorization 76 / 100 The goal of stakeholder communication is to: A) Avoid conflict B) Maintain involvement and satisfaction C) Minimize feedback D) Sign contracts 77 / 100 What is the key benefit of using project templates? A) Cost estimation B) Reducing schedule C) Ensures consistency and saves time D) Avoiding stakeholders 78 / 100 What is the purpose of a change control board (CCB)? A) Manage vendor payments B) Review and approve project changes C) Conduct performance reviews D) Track lessons learned 79 / 100 What’s the difference between risks and issues? A) Risks are future threats; issues are current problems B) Issues are worse than risks C) Issues are planned D) No difference 80 / 100 Who owns the product backlog in Scrum? A) Scrum Master B) Stakeholder C) Product Owner D) Project Coordinator 81 / 100 In Agile, a “sprint” typically refers to: A) A documentation phase B) A testing method C) A fixed time period to complete tasks D) A release date 82 / 100 Who is responsible for managing interdependencies in a program? A) Project coordinator B) Portfolio analyst C) Program manager D) Functional head 83 / 100 What is the main output of project integration management? A) Cost savings B) A unified project plan C) Risk reports D) Vendor selection 84 / 100 What is “fast tracking” in project scheduling? A) Cutting quality to reduce time B) Assigning more staff C) Performing tasks in parallel to shorten timeline D) Ignoring slack 85 / 100 What is a strong matrix structure? A) Project manager has full control B) Functional managers dominate C) PM has no authority D) Multiple sponsors 86 / 100 What does “scope baseline” include? A) Risk register B) Scope statement, WBS, WBS dictionary C) Procurement terms D) Resource tracker 87 / 100 What is a key tool for team motivation in projects? A) Autocratic leadership B) Performance reviews C) Recognition and rewards D) High workloads 88 / 100 Which Agile artifact shows completed work? A) Sprint backlog B) Burndown chart C) Increment D) Story point board 89 / 100 What is progressive elaboration in WBS? A) Adding stakeholders B) Detailing tasks over time C) Increasing budget D) Reducing scope 90 / 100 Lessons learned” are recorded in which phase? A) Planning B) Monitoring C) Execution D) Closing 91 / 100 What is a key responsibility of the project team during execution? A) Approving scope B) Reporting progress C) Funding the project D) Approving invoices 92 / 100 What is the best definition of a stakeholder? A) Only project team B) Any person with a financial stake C) Anyone affected by or involved in the project D) Only the client 93 / 100 What’s the role of a project sponsor? A) Approve deliverables and secure funding B) Write project contracts C) Manage WBS D) Conduct QA inspections 94 / 100 Which method involves comparing best practices across industries? A) Benchmarking B) Bottom-up estimation C) WBS rolling D) Cost variance 95 / 100 Who sponsors and champions a project at the organizational level? A) Team Lead B) Functional Manager C) Project Sponsor D) Scrum Master 96 / 100 In stakeholder management, “manage closely” applies to: A) Low power/low interest B) High power/high interest C) Low influence D) Observers 97 / 100 What is scope validation? A) Internal team review B) Client approval of completed deliverables C) Budget check D) Schedule optimization 98 / 100 What is a lag in project scheduling? A) Early task start B) Time between dependent activities C) Activity delay caused by errors D) Risk exposure 99 / 100 Which of the following can be considered an internal enterprise environmental factor? A) Government regulations B) Market trends C) Organizational culture D) Climate change 100 / 100 What is the responsibility of a project coordinator? A) Managing multiple programs B) Supporting project managers with administrative duties C) Authorizing budgets D) Conducting audits Your score is 0% Restart quiz By Wordpress Quiz plugin
