In All Cases of Looking for an Ideal Project Culture

question 74

Multiple Choice

In all cases of looking for an ideal project culture, there is always the need for

• A)More funding.
• B)Balance among multiple project dimensions.
• C)Considerable support from all levels of management.
• D)A very strong Project Management Office.

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Definitions:

Actual Costs

The real costs incurred in the production, acquisition, or realization of goods and services, as opposed to estimated or standard costs.

Direct Materials Price Variances

The difference between the actual cost of direct materials and the standard cost, used to measure cost management efficiency.

Quantity Variances

Differences between the expected and the actual amount of materials, labor, or overhead used in production.

Standard Costs

Predetermined costs to manufacture a single unit or a number of units of a product during a specific period.