Formal Planning and Control Tools

question 42

Multiple Choice

Formal planning and control tools

• A)enable a project to have sufficient technical support for project management and development.
• B)enable a project manager to properly document and monitor project plans.
• C)portray a project as a network diagram with numbered nodes representing project tasks.
• D)consist of ways to link the work of the implementation team with users at all organization levels.
• E)enable senior management to track the development of systems.

---

Definitions:

Selling Price

The amount of money charged for a product or service, determined by adding a profit margin to the product cost.

Competition-Based Concept

A pricing strategy that sets prices based on what competitors charge for similar products or services.

Economic Theory Approach

A perspective or method that applies economic theories and principles to analyze and solve various problems or to understand behavior.

Price Skimming

Price skimming involves setting a relatively high price for a new product or service at the beginning, then lowering the price over time.