Which Statement Regarding the Project Management Institute's Project Management Body

question 100

Multiple Choice

Which statement regarding the Project Management Institute's Project Management Body of Knowledge (PMBoK) is best?

• A)The PMBoK consists of seven knowledge areas of project management skills and activities.
• B)Each element of the iron triangle is represented by its own area.
• C)Project risk management is part of the integration section.
• D)The institute's position that a properly planned project will not require any changes precludes the need for change control in the model.

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Definitions:

Sales Volume Variances

This is the difference between the actual sales volume and the budgeted sales volume, affecting revenue and expense projections.

Direct Materials Price Variance

The variance between the real expense of direct materials utilized in production and their predetermined cost, multiplied by the real amount of materials used.

Pounds

A unit of weight commonly used in the United States' customary and British imperial measurement systems.

Overhead Cost Variance

The difference between the actual overhead incurred and the overhead that was expected or budgeted.