Determining the Earned Value Involves Collecting Data on the Percent

question 70

Multiple Choice

Determining the earned value involves collecting data on the percent complete for each work package and then converting this percentage to a dollar amount by multiplying the ____ of the work package by the percent complete.

• A) total budgeted cost
• B) cumulative budgeted cost
• C) total cumulative fees
• D) contract cumulating amount

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Definitions:

Bullwhip Effect

A phenomenon in supply chain management where small fluctuations in demand at the retail level cause increasingly larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.

Supply Chain

A network between a company and its suppliers to produce and distribute a specific product to the final buyer.

Internet-Based Inventory

Inventory management systems that use internet technologies to monitor and manage the stock levels of products.

Net Profit Margin

A financial metric showing the percentage of revenue remaining after all operating expenses, taxes, and interest have been deducted.