Project Cost Management

question 60

Multiple Choice

Project Cost 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) assures that the project budget is developed and completed as approved.
• E) is concerned with acquiring project resources that are outside the organization.

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Definitions:

Bystander Effect

A social psychological phenomenon where individuals are less likely to offer help to a victim when other people are present.

Social-Responsibility Norm

A societal rule that people should help those who need assistance, even if doing so is costly.

Social Exchange Theory

A theory suggesting that social behavior is the result of an exchange process aiming to maximize benefits and minimize costs.

Equity

The concept of fairness or justice in situations, ensuring everyone has equal access to resources and opportunities.