In the Development Phase of the Project Life Cycle

question 50

Multiple Choice

In the development phase of the project life cycle:

• A)the project team creates more detailed project plans, a more accurate cost estimate, and a more thorough WBS. 
• B)the project team delivers the required?work, and provides performance reports to stakeholders. 
• C)managers develop a business case, which describes the need for the project and basic underlying concepts. 
• D)managers prepare a preliminary or rough cost estimate for the required work.

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Definitions:

Permanent Income Hypothesis

A theory suggesting that people's consumption choices are based not just on their current income, but also on their expected income in the future.

Monthly Income

The total amount of income or earnings generated by an individual or entity before taxes and deductions, within a month.

Age Group

A segment of a population defined by age. People in the same age group generally face similar life experiences and challenges.

Services

Intangible products provided to consumers, including healthcare, education, banking, and entertainment, distinct from physical goods.