At the End of the Third Week of a Project

question 252

Multiple Choice

At the end of the third week of a project, the actual cost of work performed is $7000 USd and the budgeted cost of work performed is $8000 USd. Which of the following is true?

• A) The project is under budget.
• B) The project is budget incorrect.
• C) The project has been back-end loaded.
• D) The project is over budget.

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Definitions:

Reciprocity Norm

A social norm that dictates that we should repay, in kind, what another person has provided us, promoting the exchange of goods, services, and favors.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values.

Fundamental Attribution Error

The tendency to overemphasize personality-based explanations for behaviors observed in others while underemphasizing the role of situational factors.

Defensive Attribution

A psychological process by which individuals tend to ascribe greater blame to the victims of misfortune for their own victimization when they feel threatened by the likelihood of a similar event happening to them.