The Main Purpose of the Planning Phase in a Project

question 29

Multiple Choice

The main purpose of the planning phase in a project is to ________.

• A) set up the project scope and initial budget
• B) accomplish the project tasks effectively
• C) determine who will do what and by when
• D) establish team roles, responsibilities, and authorities
• E) determine completion

---

Definitions:

Interest Payments

Regular payments made to lenders or bondholders as compensation for borrowing money, typically calculated as a percentage of the principal amount.

Total Discount

The complete reduction from the usual price of goods or services, often applied cumulatively or as a summation of various discount types.

Individual Bonds

Securities that represent a loan from an investor to a borrower, typically a corporation or government, with specified terms for interest payments and return of principal.

Bonds' Market Value

The market value of bonds is the current market price at which these debt securities can be bought or sold, influenced by interest rates, credit ratings, and other factors.