Initiating, Planning, Executing, Monitoring and Controlling, and ________ Are the Project

question 10

Multiple Choice

Initiating, planning, executing, monitoring and controlling, and ________ are the project management processes.

• A) procurement
• B) testing
• C) closing
• D) implementation

---

Definitions:

Unit Labor Costs

The cost incurred by a company to produce one unit of output, specifically focusing on labor expenses.

Shirking

The behavior of employees who work less hard or less efficiently when they feel that their efforts are not being adequately monitored or rewarded.

Principal-Agent Problem

A dilemma in which one party (the agent) is supposed to act in the best interest of another party (the principal) but may act in their own interest instead.

Compensating Wage Differences

The variation in wage rates to offset the attractiveness or unattractiveness of jobs, based on factors such as job difficulty or risk.