The Correct Sequence of the Four Major Phases in Projects

question 108

True/False

The correct sequence of the four major phases in projects life cycle is; organization, planning, execution and closeout.

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Definitions:

Profits and Losses

Financial terms representing the positive or negative financial outcomes resulting from a company's operations and activities.

LLP

Limited Liability Partnership, a partnership where some or all partners have limited liabilities, protecting individual partners from the debts of the partnership.

Net Income

The amount of profit that remains after subtracting all the costs, taxes, and expenses from total revenue.

Capital Account Balance

The amount recorded in a company's capital account, representing the net worth or equity of the owners in the business.