During the Project Life Cycle, Project Managers Encounter Many Occasions

question 131

True/False

During the project life cycle, project managers encounter many occasions to employ their negotiating skills in interactions with the sponsor or customer, the project organization's management, subcontractors, vendors, and end users of the project's end product.The subject of negotiations can be contract terms and conditions, obtaining specific resources to staff the project, subcontractor prices, vendor delivery schedules, payment for damages, the cost or schedule impact of changes, customer approval of designs, the need for rework if quality standards were not met, the best approach to resolve a technical performance issue, interpretation of acceptance criteria or test results, approaches to get the project back on track if it is behind schedule and/or over budget, and so forth.

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Definitions:

Units-Of-Activity

A depreciation method that allocates the cost of an asset over its useful life based on the number of units it produces or the hours it operates.

Double-Declining-Balance

An accelerated method of depreciation that doubles the standard depreciation rate, resulting in higher depreciation expenses in the earlier years of an asset's life.

Residual Value

The salvage value of an asset after its period of use has ended, reflecting its remaining worth.

Depreciation Method

A methodical strategy for distributing the expense of a physical asset across its lifespan.