The Project Management Body of Knowledge

question 8

Multiple Choice

The Project Management Body of Knowledge

• A) is a method of ensuring project success.
• B) must be used on all projects.
• C) is a generally accepted set of principles and practices for project management.
• D) must be used in its entirety.
• E) works the same on all projects.

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Definitions:

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting that is not necessarily aligned with the calendar year.

Assumptions

Fundamental beliefs or statements taken for granted in the planning and decision-making process.

Schedule

A detailed plan or listing, often used in accounting to organize financial information, activities, or obligations.

Effective Interest Method

A way of amortizing the cost of a bond premium or discount over its life, giving a constant rate of interest over the period.