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The Quality Revolution Introduced Many Tools That Can Be Used

question 12

Essay

The quality revolution introduced many tools that can be used to improve the quality of project related processes and outcomes.List three core quality concepts and briefly note how they can be applied to projects.


Definitions:

Interest Rate

The rate, expressed as a percentage of the principal amount, that a borrower must pay to a lender to use their assets.

Disbursement Float

The time lag between when a check is issued by a payer and when the funds are deducted from the payer's bank account.

Checks

Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or a designated recipient.

Clear

To complete a transaction successfully, particularly in financial contexts where payments or securities are settled.

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