Discuss the Key Elements of Project Control and Define Enterprise

question 16

Essay

Discuss the key elements of project control and define enterprise project management.

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Definitions:

System II Thinking

A cognitive process that involves analytical, effortful, and logical thinking as opposed to quick, instinctual, and often biased System I thinking.

System I Thinking

A term from dual-process theory referring to fast, automatic, emotional, and subconscious thought processes.

Utility Theory

A theory in economics and finance that describes how individuals choose among different options or actions based on their expected happiness or satisfaction.

Framing

The way a decision is phrased or the way options are described. Seemingly peripheral aspects of the framing can influence decisions by changing the point of reference.