Explain Why in a Project Only Two of the Three

question 55

Short Answer

Explain why in a project only two of the three project elements (cost, time, and scoop) can be optimized and the third must be adjusted to maintain balance.

---

Definitions:

Markets

Places or systems where goods and services are exchanged.

Price Elasticity

An indicator showing the reaction of consumer demand for a product to shifts in its price, illustrating how price fluctuations affect buyer sensitivity.

Bumper Crop

is an unusually large harvest of a crop, often due to favorable growing conditions.

Farm Incomes

The earnings obtained from agricultural activities after expenses are deducted.