Duncan, a Project Manager, Has to Create a Work Breakdown

question 30

Multiple Choice

Duncan, a project manager, has to create a work breakdown structure (WBS) for a new project. He gathers the project team and provides them with a pad of sticky-notes. After defining the project objectives and the major activities that would need to be done to achieve those objectives, he asks his team members to write all the tasks that they think would be required to complete the project on the sticky-notes. These notes are then stuck on a wall in a sequential manner. In this scenario, Duncan uses a(n) _____ to create the WBS.

• A) FMEA chart
• B) Langley histogram
• C) project baseline
• D) Gozinto chart
• E) RACI matrix

Determine the reference value for setting prices in a competitive market.

Develop pricing strategies based on a product's cost, market position, and unique value proposition.

Understand the impact of operating costs on the total cost of ownership of a product.

Evaluate the useful life of products in terms of service hours and how it affects pricing.

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Definitions:

Rolling Budget

A continuously updated budget that adds a new budget period (e.g., month, quarter) as the current period concludes, thereby extending the overall budget horizon.

Merchandising Companies

Businesses that purchase goods and resell them at a higher price without modifying the original products.

Managers

Individuals responsible for administering and controlling part or all of a company's operations.

Company's Goals

Objectives or targets that a company aims to achieve over a certain period of time.