The First Step in Both the CPM and PERT Approaches

question 59

Multiple Choice

The first step in both the CPM and PERT approaches is?

• A) Determine the sequential relationship between all of the activities
• B) Identify all project activities and time to complete each activity
• C) Develop an activity network
• D) Determine the critical path

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Definitions:

Fixed Costs

Fixed costs are business expenses that do not change regardless of the level of goods or services produced, such as rent, salaries, and insurance premiums.

Total Revenue

The total amount of money generated by a company from its business activities, such as sales of goods or services, before any expenses are subtracted.

Mass Customization

A manufacturing approach that allows for the personalization of products to meet individual customer needs at near mass production prices.

Institutional Buyers

Large organizations such as mutual funds, pension funds, and insurance companies that buy or sell large quantities of securities or goods.