1. Pick the BEST answer and indicate the corresponding alphabet on the designated space at the beginning of each on the following:

1. (2 points) ___ Which of the following(s) is(are) project(s)?

1. The design and development of a new product.
2. Gathering and entering employment data for a Bureau of Labor Statistics quarterly report.
3. Producing a car on an automated automobile assembly line.
4. a and b above.
5. a, b, and c above.
6. None of the above

2. (6 points) ___ The following series of payments will repay a present sum of P at an 8% annually compounded interest rate. The value of P is very close to:

End of Year	End of Year Payment
0	$0
1	$140
2	$132
3	$124
4	$116
5	$108

1. $ 156
2. $ 475
3. $ 500
4. $ 526
5. None of the above.

3. (2 points) ____ The most important key criterion for selecting a good project manager is:

1. A strong technical background
2. A good manager of people
3. A good communicator with top management and clients
4. A closer, gets the job done
5. A detailer, pays attention to every detail

4. (2 points) ___ The project team members should be:

1. Politically sensitive
2. Technically competent
3. Goal oriented
4. Problem oriented
5. All of the above
6. None of the above.

5. (2 points) ___What is a slack?

1. Amount of time a non-critical activity can be delayed without making the projects scheduled duration late.
2. Amount of time an activity on the critical path can be delayed without making the project duration late.
3. Difference between how long the project would take if all tasks were completed based on their pessimistic versus optimistic time estimates.
4. Amount of time an activity can be delayed without making the project late.
5. None of the above. The correct answer is: _____________________________