The First Step in the Project Control Process for Measuring

question 3

Multiple Choice

The first step in the project control process for measuring and evaluating project performance is to

• A) set a baseline plan.
• B) determine the project objectives.
• C) determine the project deliverables.
• D) analyze the project budget.
• E) review the project priority matrix.

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Definitions:

Materials Requisitions

Documents or requests used within a company to authorize the retrieval or usage of materials from inventory for production purposes.

Process Cost System

An accounting system that accumulates manufacturing costs and then assigns them to a large number of identical or similar units of output, common in continuous manufacturing environments.

Job Order Cost System

An accounting system that accumulates costs for each individual job or batch of goods, tracking direct labor, direct materials, and overhead.

Process Cost Systems

An accounting system used to apply costs to similar products that are mass-produced in a continuous fashion, assigning costs to units of product based on the processes they go through.