An Allocation of Extra Funds to Cover Uncertainties and Improve

question 53

Multiple Choice

An allocation of extra funds to cover uncertainties and improve chances that the project can be completed within the timeframe originally specified is a:

• A)setback.
• B)budget contingency.
• C)reallocation budget.
• D)reserve line budget.

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Definitions:

Utility Function

A mathematical representation that defines individual preferences for consumption bundles by assigning a utility value to each bundle.

Consumption

The action of using up a good or service, typically by households or individuals, affecting economic analyses of demand and spending behaviors.

Borda Count

A voting system in which voters rank candidates in order of preference, and candidates are assigned points based on their position in each vote, to determine the winner.

Candidates

Individuals seeking to be elected or selected for a specific position, role, or honor.