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Declarative and Procedural Knowledge

question 2

Multiple Choice

Declarative and procedural knowledge:

Comprehend financial basics in project management, including loans, interest, cash flow, net income, and investment evaluation methods like IRR.
Recognize the distinctive purposes and operational contrasts between for-profit and not-for-profit organizations.
Grasp the essential elements and processes involved in project planning, scope development, and initiation, including role clarification and stakeholder alignment.
Acknowledge the significance of effective communication in project management and the development of communication plans.

Definitions:

Anchoring and Adjustment

A cognitive bias where individuals rely too heavily on an initial piece of information (the "anchor") when making decisions, with adjustments made too conservatively.

Representativeness

A cognitive heuristic where an individual judges the probability or frequency of an event by how much the event resembles the typical case.

Availability

The state of being able to be used or obtained; accessibility.

External Locus

A belief that outcomes of events are determined by external forces or fate, rather than one's own actions.

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