Determining the Strengths and Weaknesses of Project Deliverables, the Processes

question 27

Multiple Choice

Determining the strengths and weaknesses of project deliverables, the processes used to create them, and the project management process is done during:

• A) conducting postproject reviews.
• B) closing down the project.
• C) establishing the communication plan.
• D) communicating the project status.
• E) closing the customer contract.

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Definitions:

Liability

A financial obligation or debt owed by a business or individual to others, which requires settlement in the future.

Asset

Resources owned or controlled by a business, expected to produce future economic benefits.

Accounting Period

A specific period of time used for financial reporting, typically a quarter or year.

Trial Balance

A Trial Balance is a report that lists the balances of all general ledger accounts at a specific point in time, utilized to verify the total debits equal total credits in the accounting system.