The Business Stakeholder Has Been Engaged Late and Has Just

question 9

Multiple Choice

The business stakeholder has been engaged late and has just had a chance to review the approved requirements. Consequently, it has been identified that there are a number of gaps in the requirements which are critical to the stakeholders's business unit. Which of the following actions should the project manager take?

• A) Initiate change control.
• B) Follow communications plan.
• C) Manage project quality.
• D) Prepare a performance report.

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Definitions:

Unit Elastic

A situation in demand or supply where the elasticity is exactly one, indicating that a change in price results in a proportionate change in the quantity demanded or supplied.

Total Revenue

The total amount of money received by a firm from selling its goods or services.

Price Elastic

Describes how sensitive the demand for a good or service is to changes in its price.

Income Elasticity

A measure of how much the demand for a good or service changes in response to a change in the income of consumers.