What Is a Project Charter

question 65

Multiple Choice

What is a project charter?

• A)Specific factors that can limit options.
• B)Factors that are considered to be true, real, or certain without proof or demonstration.
• C)Quantifiable criteria that must be met for the project to be considered a success.
• D)A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.

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Definitions:

Positive Externalities

Benefits experienced by a third party not directly involved in the production or consumption of a good or service.

Socially Desirable

Something that is socially desirable is valued and sought after in a society because it promotes the general welfare or aligns with societal norms and values.

Allocate Resources

The process of distributing available resources among various projects or units in order to achieve strategic goals effectively.

Internalize

The process by which a company takes into account the external costs (or benefits) of its activities, usually environmental, by incorporating them into its business decisions and cost structures.