Suppose That You Have Been Assigned as the Project Manager

question 4

Essay

Suppose that you have been assigned as the project manager to execute a project that was selected using the sacred cow method of project selection.The project sponsor is an executive who has been with the company for three years.Based on past employment history,the average tenure of a senior executive at your company is 5 years.After reviewing the project's expectations and requirements,the project team has determined that the payback period will be 3.5 years.What are the implications for you and the project team?

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Definitions:

Price Elastic

Refers to a situation where the demand or supply for a product or service significantly changes in response to its price change.

Soft Drinks

Non-alcoholic beverages that are usually carbonated and contain various flavorings and sweeteners.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Total Revenue

The total income received by a company from its sales of goods or services, calculated without deducting any costs or expenses.