Project Planning, an Activity of a Project Manager, _____

question 62

Multiple Choice

Project planning, an activity of a project manager, _____.

• A) involves requires guiding, supervising, and coordinating the a project team's workload
• B) includes monitoring the progress of the a project, evaluating results, and taking corrective action when necessary to stay on target
• C)
• Focuses on long-term challenges and goals, the importance of stakeholders, and a commitment to the firm's role as a corporate citizenconsists of staffing, which includes selecting the project team and assigning specific tasks to team members
• D) includes identifying project tasks and estimating completion times and costs

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Definitions:

Production Possibilities Curve

A graphical representation that shows the maximum quantity of one good that can be produced for every possible quantity of another good produced, given the available resources and technology.

Consumer Goods

Products and services that are purchased for personal use or consumption by the general public.

Capital Goods

Goods that are used in producing other goods and services rather than being bought by consumers.

Opportunity Cost

The cost of forgoing the next best alternative when a decision is made to choose one option over another.