Work Breakdown Structure Is a Useful Tool in Project Management

question 45

True/False

Work breakdown structure is a useful tool in project management because it addresses the timing of individual work elements.

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Definitions:

Accounting Profits

The net earnings of a company as calculated by subtracting all explicit costs from total revenues, according to standard accounting practices.

Fixed Costs

Costs that do not vary with the level of output or production, such as rent or salaries.

ATC

Average total cost is found by dividing the overall production cost by the number of units produced.

Marginal Revenue

The additional income generated from the sale of one more unit of a product or service.