Explain Why It Is Necessary for the Project Manager to Understand

question 17

Essay

Explain why it is necessary for the project manager to understand the reasons leading to the selection of a project.

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Definitions:

Installation Costs

Expenditures associated with setting up equipment or systems, which may be capitalized or expensed depending on accounting policies.

Net Income

The profit a company has after all expenses, taxes, and deductions are subtracted from total revenue.

Sales Tax

Sales tax is a tax imposed by governments on sales of goods and services, collected by the retailer at the point of sale.

Installation

Installation involves setting up or putting into place a piece of equipment or system, often requiring technical skills and specific procedures.