The Project or Phase Closeout Process Must Be Completed, Regardless

question 62

Multiple Choice

The project or phase closeout process must be completed, regardless of the size of the project or the reason for a project or phase ________.

• A) termination
• B) audit
• C) review
• D) reorganization

---

Definitions:

Diseconomies of Scale

A situation where, as a firm's production scales up, the costs per unit increase, contrary to economies of scale.

Long-run Total Costs

The total costs incurred by a firm when all factors of production are variable, and the firm can change its scale of operation.

Opportunity Cost

The expense incurred by not choosing the second-best option available during the decision-making process.

Bank Loan

A sum of money borrowed from a bank that must be repaid with interest over a set period.