Recall the earlier situation in which you can buy only one of two equal $50,000 machines. Machine #1 has savings of $20,000 per year, while machine #2 has savings of $14,000 per year. However, machine #1 has a life expectancy of four years, while machine #2 has a life expectancy of eight years. The cost of capital is 15%. Determine which machine should be purchased and the annual benefit of your choice.

1.A manager and the head of engineering discuss a change to a major work package. After the meeting, the manager contacts you and tells you to complete the paperwork to make the change. This is an example of:

2.During a team meeting, a team member asks about the measurements that will be used on the project to judge performance. The team member feels that some of the measures related to activities assigned him are not valid measurements. The project is BEST considered in what part of the project management process?

3.Your company just won a major new project. It will begin in three months and is valued at 2m USD. You are the project manager for an existing project. What is the FIRST thing you should do once you hear of the new project?

4.You are a new project manager who has never managed a project before. It would be BEST in this situation to rely on _____ during planning in order to improve your chance of success.

5.During project executing, a team member comes to the project manager because he is not sure of what work he needs to accomplish on the project. Which of the following documents contain detailed descriptions of work packages?

6.During a meeting with some of the project stakeholders, the project manager is asked to add work to the project scope. The project manager had access to correspondence about the project before the project charter was signed and remembers that the project sponsor specifically denied funding for the scope mentioned by these stakeholders. The BEST thing for the project manager to do is to:

7.Your project management plan results in a project schedule that is too long If the project network diagram cannot change but you have extra personnel resources, what is the BEST thing to do?

8.An activity has an early start (ES) of day 3, a late start (LS) of day 13, an early finish (EF) of day 9, and a late finish (LF) of day 19. The activity:

9.Early in the life of your project, you are having a discussion with the sponsor about what estimating techniques should be used. You want a form of expert judgment, but the sponsor argues for analogous estimating. It would be BEST to:

10.Sue is working as a Scrum Master in a Scrum Team. There are five developers in the team. Rick is one of the developers in the team and Sue noticed that Rick is applying a different approach to complete Sprint tasks faster. Which one is the best course of action to do for Sue?