Project Procurement Management

question 65

Multiple Choice

Project Procurement Management

• A) focuses on coordinating the project plan's development, execution, and control of changes.
• B) includes identifying the project phases and activities and estimating, sequencing, and assigning resources.
• C) focuses on planning, developing, and managing the quality environment allowing the project to meet or exceed stakeholder expectations.
• D) focuses on identifying and responding appropriately to risks that can impact the project.
• E) is concerned with acquiring project resources that are outside the organization.

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Definitions:

Resources

Assets, materials, or substances available for use in the production process, human activities, or for satisfying needs.

Economists

Professionals who study how societies use scarce resources to produce valuable commodities and distribute them among different people.

Opportunity Cost

Opportunity cost represents the value of the best alternative that is foregone when a choice is made between several mutually exclusive options.

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