Petroleum Project Management – MCQs 50 Score: 0 Attempted: 0/50 Subscribe 1. In petroleum engineering, project management primarily involves: (A) Managing oilfield workers only (B) Planning, executing, and controlling petroleum projects (C) Maximizing drilling speed only (D) Supervising safety officers 2. The first stage of a petroleum project life cycle is: (A) Exploration (B) Planning (C) Production (D) Decommissioning 3. A Gantt chart is commonly used for: (A) Risk assessment (B) Scheduling project activities (C) Financial auditing (D) Reservoir modeling 4. Critical Path Method (CPM) is used to: (A) Reduce drilling costs (B) Determine the longest path of project activities (C) Improve safety (D) Train project staff 5. The project triple constraint includes: (A) Cost, schedule, quality (B) Oil, gas, water (C) Risk, profit, loss (D) Safety, environment, quality 6. In project risk management, the main objective is to: (A) Eliminate all risks (B) Identify, assess, and mitigate risks (C) Increase project profits (D) Delay project completion 7. The Work Breakdown Structure (WBS) is used to: (A) Divide the project into manageable components (B) Analyze drilling mud composition (C) Organize well testing data (D) Estimate petroleum reserves 8. Earned Value Management (EVM) is a technique for: (A) Estimating petroleum reserves (B) Evaluating project performance against schedule and cost (C) Designing offshore platforms (D) Monitoring reservoir simulation 9. Which of the following is a project stakeholder? (A) Project manager (B) Government regulators (C) Investors (D) All of the above 10. The main document that defines project objectives, scope, and stakeholders is: (A) Risk register (B) Project charter (C) WBS (D) Contract agreement 11. In petroleum projects, FEED refers to: (A) Field Engineering and Environmental Design (B) Front-End Engineering Design (C) Fast Engineering Execution Design (D) Final Engineering Evaluation Data 12. Which project phase comes immediately after exploration in oil and gas? (A) Appraisal (B) Abandonment (C) Marketing (D) HSE audit 13. Cost overrun in petroleum projects usually results from: (A) Poor planning (B) Scope creep (C) Delays in drilling (D) All of the above 14. A petroleum project’s Net Present Value (NPV) measures: (A) Daily production rate (B) Profitability considering time value of money (C) Only drilling costs (D) Reserves in barrels of oil equivalent 15. The main role of a project manager is to: (A) Execute tasks personally (B) Plan, coordinate, and control project activities (C) Only approve budgets (D) Operate drilling rigs 16. A risk register is used to: (A) Record production rates (B) Document project risks and mitigation strategies (C) Log HSE incidents (D) Track drilling speed 17. Which software is widely used in petroleum project scheduling? (A) AutoCAD (B) Primavera P6 (C) MATLAB (D) Eclipse 18. The term “scope creep” refers to: (A) Sudden drop in oil prices (B) Uncontrolled changes or growth in project scope (C) Wellbore instability (D) Reservoir depletion 19. Which analysis is used to evaluate project uncertainty? (A) SWOT analysis (B) Monte Carlo simulation (C) Well log analysis (D) Nodal analysis 20. Stakeholder management in petroleum projects is important because: (A) It increases oil recovery (B) It aligns project goals with expectations of different parties (C) It replaces risk management (D) It avoids reservoir depletion 21. In offshore projects, FPSO stands for: (A) Floating Production Storage and Offloading (B) Final Petroleum Safety Operations (C) Fluid Pressure Simulation Output (D) Field Petroleum System Optimization 22. Which project document includes time-phased cost estimates? (A) Project charter (B) Project schedule (C) Cost baseline (D) Risk register 23. Which financial metric calculates the rate of return on a petroleum project? (A) NPV (B) IRR (C) Payback period (D) EVM 24. The project phase where wells are drilled and facilities are built is called: (A) Execution (B) Closure (C) Planning (D) Appraisal 25. Which type of contract transfers maximum risk to the contractor? (A) Cost plus contract (B) Time and material contract (C) Lump sum (turnkey) contract (D) Joint venture agreement 26. Which international standard provides guidelines for project management? (A) ISO 31000 (B) ISO 21500 (C) ISO 14001 (D) API RP 14C 27. Petroleum megaprojects are defined as projects costing over: (A) $100 million (B) $500 million (C) $1 billion (D) $10 billion 28. The primary objective of project cost control is to: (A) Increase drilling speed (B) Ensure spending remains within the approved budget (C) Reduce production rates (D) Increase risk levels 29. Project procurement management deals with: (A) Hiring workers (B) Acquiring goods and services needed for the project (C) Selling crude oil (D) Well testing 30. The abbreviation EPC in petroleum project contracts means: (A) Exploration, Production, Completion (B) Engineering, Procurement, Construction (C) Environmental Protection Code (D) Energy Production Cycle 31. In petroleum projects, CAPEX refers to: (A) Capital Expenditure (B) Current Production Expense (C) Critical Path Execution (D) Cost Allocation Plan 32. OPEX in petroleum project management refers to: (A) Operational Expenditure (B) Oilfield Production Expense (C) Offshore Project Execution (D) Organizational Planning Exercise 33. Fast-track project management is commonly used when: (A) Oil prices are high and project delivery is urgent (B) Projects have unlimited budgets (C) Risks are very low (D) Projects are in mature fields only 34. Project closure involves: (A) Well completion (B) Finalizing all activities, contracts, and handing over (C) Seismic survey (D) Drilling new wells 35. Which is NOT a project management knowledge area in PMBOK? (A) Integration management (B) Drilling fluid design (C) Cost management (D) Risk management 36. Which petroleum project document provides a roadmap for communication? (A) Communication management plan (B) Stakeholder register (C) Risk assessment report (D) Charter 37. The success of a petroleum project is usually measured by: (A) Cost, schedule, quality, and stakeholder satisfaction (B) Only oil production rate (C) Safety compliance only (D) Number of wells drilled 38. Which risk response strategy transfers risk to another party? (A) Acceptance (B) Mitigation (C) Insurance (D) Avoidance 39. The process of identifying lessons learned belongs to: (A) Project initiation (B) Project execution (C) Project closure (D) Risk assessment 40. The main challenge in offshore megaprojects is: (A) Geological uncertainty (B) Harsh environmental conditions (C) Logistical complexity (D) All of the above 41. Which management tool is used to visualize project tasks and dependencies? (A) Pareto chart (B) PERT chart (C) Reservoir simulation model (D) Mud log 42. Which term refers to the time by which a project activity can be delayed without affecting project completion? (A) Float (B) Lag (C) Slack (D) Both (A) and (C) 43. In petroleum projects, FEED is followed by: (A) Execution phase (B) Exploration phase (C) Abandonment (D) Risk analysis only 44. Which petroleum project typically requires modular construction? (A) Onshore pipeline (B) Offshore platform (C) Refinery upgrade (D) Storage tanks 45. Cash flow analysis in petroleum projects is done to: (A) Measure drilling mud density (B) Assess project financial viability (C) Identify reservoir characteristics (D) Reduce exploration risk 46. The main role of a project control engineer is to: (A) Monitor schedule, cost, and performance (B) Operate rigs (C) Conduct well logging (D) Train new workers 47. A milestone in project management represents: (A) A minor task (B) A significant point or achievement in project schedule (C) A cost overrun (D) A drilling depth 48. The “Stage-Gate” model in petroleum project management refers to: (A) Dividing projects into phases separated by decision points (B) A method of reservoir stimulation (C) A safety barrier in drilling (D) Offshore gate system 49. In petroleum projects, NPV > 0 means: (A) Project is financially viable (B) Project is at break-even (C) Project should be abandoned (D) Project is at risk 50. Which global organization publishes project management standards like PMBOK? (A) API (B) SPE (C) PMI (D) OPEC FOUNDATIONAL SUBJECTS (Year 1 – Year 2)Engineering Mechanics (Statics & Dynamics) – MCQsFluid Mechanics – MCQsThermodynamics – MCQsComputer Programming (e.g., MATLAB, Python) – MCQsIntroduction to Engineering – MCQsGeology for Engineers – MCQsTechnical Communication – MCQs CORE PETROLEUM ENGINEERING SUBJECTS (Year 2 – Year 4)Introduction to Petroleum Engineering – MCQsPetroleum Geology – MCQsDrilling Engineering – MCQsReservoir Engineering – MCQsProduction Engineering – MCQsPetroleum Fluid Properties – MCQsWell Logging and Formation Evaluation – MCQsPetroleum Economics – MCQsPetroleum Refining and Processing – MCQs Natural Gas Engineering – MCQsEnhanced Oil Recovery (EOR) – MCQsWell Testing – MCQsReservoir Simulation – MCQsDrilling Fluids and Cementing – MCQsOffshore Petroleum Engineering – MCQsHealth, Safety and Environment (HSE) – MCQsPetroleum Project Management – MCQsCorrosion Engineering – MCQsArtificial Lift Techniques – MCQsPetrophysics – MCQs LABORATORIES & PRACTICALS (Theory-based MCQs can be made from these)Drilling Fluids Lab – MCQsCore Analysis Lab – MCQsReservoir Simulation Lab – MCQsRock and Fluid Properties Lab – MCQsWell Logging Lab – MCQs ELECTIVES (Optional/Advanced)Energy Transition and Sustainability – MCQsUnconventional Resources (Shale, Tight Gas, etc.) – MCQsData Analytics in Petroleum Engineering – MCQsGeographic Information Systems (GIS) – MCQsPetroleum Law and Policy – MCQsPipeline Engineering – MCQsRenewable Energy Integration – MCQs