Studies of IT Projects Reveal That

question 67

Multiple Choice

Studies of IT projects reveal that:

• A)initial cost estimates are overrun by an average of 15%.
• B)over 66% of IT projects were delivered to customers but not used.
• C)about 25% of all IT projects become runaways by overshooting budgets and timetables.
• D)up to 75% of software projects are cancelled.

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Definitions:

Upsloping Curve

A graphical representation showing a positive relationship between two variables, where an increase in one variable results in an increase in the other.

Average Revenue

Total revenue from the sale of a product divided by the quantity of the product sold (demanded); equal to the price at which the product is sold when all units of the product are sold at the same price.

Elasticity Coefficient

A numerical value that measures the responsiveness of the quantity demanded or supplied of a good to a change in its price or other factors.

Marginal Revenue

The additional income that is generated by selling one more unit of a product or service.