Once a Project Is Approved and Underway, Project Managers Are

question 109

True/False

Once a project is approved and underway, project managers are only responsible for effectively managing time and costs which, if done well, will assure project completion on time and on budget.

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Definitions:

Social Interest

The welfare or well-being of the general public and society at large, considering the collective needs rather than individual interests.

No Personal Financial Responsibility

A situation where individuals do not bear direct financial consequences for their actions, often due to insurance, subsidies, or other protective measures.

Corporations

Legal entities that are separate from their owners, providing limited liability protection, and have the ability to raise capital through selling shares.

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating nature of the market whereby individuals working for their own interest inadvertently benefit society.