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question 12

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Understand the concepts of lead, lag, and float times and their implications on project scheduling.
Learn the purpose and structure of a Work Breakdown Structure (WBS) and its role in project planning.
Grasp the significance of resource allocation and leveling in the context of project management.
Distinguish between different types of schedules (master, milestone, current) and their uses.

Definitions:

Auctioning

the process of selling goods or services to the highest bidder through a competitive bidding process.

Direct Regulation

A method of regulation where government agencies set explicit rules or standards that restrict certain actions or outcomes, often involving monitoring and enforcement.

Positive Externalities

Benefits that a third-party or society gains from a transaction or activity they are not directly involved in.

Third Parties

Entities that are involved in a transaction or relationship but are not the main parties; in economics, often refers to intermediaries or external stakeholders.

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