Retainage in the Context of a Project Management Refers To

question 3

Multiple Choice

Retainage in the context of a project management refers to:

• A) A final project payment the customer holds until all final details are complete
• B) A final deliverable that the project team withholds until the final payment is received
• C) An initial payment made to the organization to retain the service of the project team
• D) A firewall to protect project data
• E) None of the above

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Definitions:

Off-Peak Pricing

Pricing strategy that offers lower prices during times of decreased demand to stimulate consumption.

Capacity Management

Integrating the service component of the marketing mix with efforts to influence consumer demand.

Intangible

Non-physical assets or qualities that cannot be easily quantified or touched, such as intellectual property or brand reputation.

Intangibility

The characteristic of services that makes them unable to be touched, seen, tasted, heard, or felt in the same manner that physical goods can be sensed.