Which of the Following Statements Correctly Describes Project Management

question 39

Multiple Choice

Which of the following statements correctly describes project management?

• A) Project management applies knowledge, skills, tools and techniques to project activities.
• B) Project management should not involve tradeoffs between scope, schedule and cost.
• C) Project management only relies upon checklists to plan and execute the work.
• D) all of these

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Definitions:

Activity-based Costing

A costing method that assigns overhead and indirect costs to specific products or activities based on their use of resources.

Allocation Base

A criterion or standard used to distribute costs across multiple cost objects.

Selling and Administrative Expenses

Costs incurred that are not directly tied to the production of goods, such as marketing and office expenses.

Factory Overhead

All indirect costs associated with manufacturing that are not directly tied to a specific product, such as maintenance, utilities, and quality control.