Generating Ideas by Comparing Specific Project Practices or Product Characteristics

question 23

Multiple Choice

Generating ideas by comparing specific project practices or product characteristics to those of other projects or products inside or outside the performing organization is known as _____.

• A)variance
• B)benchmarking  
• C)prototyping
• D)decomposition

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Definitions:

Unsecured

Refers to a loan or credit that is not backed by collateral, meaning the lender takes on more risk and relies on the borrower's creditworthiness.

Internal Audits

Evaluations conducted by a company's own staff to assess its systems, controls, and operations for efficiency, effectiveness, and compliance.

Major Investment Decisions

Critical financial choices made by businesses regarding large-scale expenditures on assets or projects expected to generate long-term benefits.

Financial Forecasts

Estimates or predictions about future financial performance, including revenue, expenses, cash flow, and economic conditions impacting a business.