Important note:  Now the you have opened this first question…

Important note:  Now the you have opened this first question, you must hold up your notes paper and show both sides to the camera.  This is the only reference (besides your online access to ESPP) allowed during the exam.  Please note that you are not allowed to have your PBA book open (either digital or hard copy ) during the exam.  —————————————————————————————————————————————————— You are a ride-share driver in New York who earns $250 for a day’s work. You have been offered a one-day ticket to the U.S. Open (also in New York) for $100. As a tennis fan, you value the experience at $300.  Heading to the U.S. Open means missing a day of work. 1.  Should you go to U.S. Open?  Explain using a cost benefit approach in decision-making. 2.  In reference to your example in our first discussion, how did you value your benefits (enjoyment) in dollar terms? You can briefly explain your example. 3. In general, give two reasons why it is challenging to apply cost/benefits to decision-making *For the question,  you will want to define in your own words the terms  marginal cost, marginal benefit, and opportunity cost.  

A company is evaluating two projects: Project A has a high…

A company is evaluating two projects: Project A has a higher NPV but a lower IRR. Project B has a lower NPV but a higher IRR. Both projects require the same initial investment, but only one can be chosen. Senior management favors Project B, arguing that its higher IRR shows better efficiency. However, the CFO insists on selecting Project A. Which of the following best explains why the CFO’s recommendation is correct?

A university IT department launches a project to replace its…

A university IT department launches a project to replace its outdated student portal. Halfway through, several new feature requests from faculty are added, communication between the tech and design teams becomes inconsistent, and some staff resist switching from the old system. The project soon falls behind schedule. Which of the following best explains the combination of issues this project is facing?

A software team is developing a new mobile app. Task A invol…

A software team is developing a new mobile app. Task A involves designing the app’s interface, while Task B involves writing the front-end code. The development team decides that both tasks can begin as soon as design work starts, allowing coders to begin implementing screens as the designers produce mockups. Which type of dependency best describes the relationship between Task A and Task B?

A project manager reviews a Work Breakdown Structure (WBS) a…

A project manager reviews a Work Breakdown Structure (WBS) and notices that one branch is extremely detailed (down to minute activities), while another remains vague with only high-level deliverables. What key WBS principle has been violated, and what is the likely consequence?

A construction firm is managing multiple commercial renovati…

A construction firm is managing multiple commercial renovation projects simultaneously. The following costs are reported this quarter: A. Monthly rent for the firm’s warehouse used to store tools and materials B. Overtime pay for electricians assigned specifically to Project Phoenix C. Annual software subscription for the company’s project management system D. Cleaning supplies used across all active project sites E. Temporary scaffolding rented only for Project Phoenix Which combination correctly identifies the direct and variable costs from this list?