Good Procedures for Cost Control Include All of the Following

question 45

Multiple Choice

Good procedures for cost control include all of the following except:

• A)Systems that accurately capture data collection and other costs associated with the project on a daily basis.
• B)Policies and practices that quickly identify overbudget situations and then find causes and seek solutions.
• C)Daily reporting of costs to the communication liaison.
• D)Policies and practices that find and account for underbudget situations.
• E)Policies and practices in the research organization that require the liaison
• To communicate the budget picture to clients and to senior managers at the
• Research company.

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Definitions:

Cultural Relativism

The principle that an individual's beliefs and activities should be understood by others in terms of that individual's own culture, emphasizing that no culture is superior to another.

Ethical Behavior

Acting in ways consistent with one’s personal values and the commonly held values of the organization and society.

Economic Self-interest

Economic self-interest is the motivation driving individuals or entities to make decisions that result in the greatest personal financial advantage.

Power Distance

The extent to which less powerful members of organizations and institutions accept and expect power to be distributed unequally.