A Budget Contingency of $1 Million on a $10 Million

question 30

True/False

A budget contingency of $1 million on a $10 million project means that the project will be planned for a cost of $10 million,but the project organization receives an extra $1 million to guard against unforeseen cost overruns.

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Definitions:

Prospective Memory

Involves remembering to perform a planned action or recall a planned intention at some future point in time.

Testing Effect

The enhanced memory retention and recall ability resulting from testing oneself on learned material, as opposed to simply studying or reviewing it.

Enriched Encoding

A memory enhancement technique that involves adding additional context or meaning to information to aid in its retrieval.

Quizzes

Short assessments used to measure knowledge, skills, or abilities in a variety of settings.