Which Term Refers to the Difference Between Planned and Actual Performance

question 72

Multiple Choice

 Which term refers to the difference between planned and actual performance?

• A) Decomposition
• B) Variance
• C) Scope validation
• D) Scope creep

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Definitions:

Business Goal

Objectives or desired outcomes that an organization aims to achieve over a specific period through its operations.

Minimize Cost

A strategy or objective aimed at reducing expenses to the lowest possible level while achieving the desired outcome.

Expected Price Level

Expected price level refers to the anticipated average cost of goods and services in the future, based on current trends and economic indicators.

Recessionary Gap

A condition in macroeconomics when an economy's real GDP is lower than its potential GDP, leading to unemployment and underutilized resources.