As Described in the Text,which of the Following Statements About

question 80

Multiple Choice

As described in the text,which of the following statements about runaway or failed IT projects is not true?

• A)Large software projects on average run 33 percent over schedule.
• B)Large software projects on average run 66 percent over budget.
• C)50% of businesses have experienced IT project failure in the last year.
• D)IT projects often fail because they lack sufficient computing capacity.
• E)One study found that private sector projects underestimate costs and time required by half.

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Definitions:

Minimum Efficient Scale

The smallest scale of production at which long-run average total costs are minimized.

Long Run Average Cost Curve

A graphical representation that shows the lowest average cost at which any given level of output can be produced in the long run.

Decreasing-cost Industry

An industry where the costs of production decrease as the industry grows due to economies of scale.

Long-run Equilibrium

A state in which all factors of production and outputs are fully adjusted to economic conditions, leading to stable prices and optimal resource allocation.