Two Types of Control Are Used Extensively on Projects and Both

question 2

True/False

Two types of control are used extensively on projects and both compare actual performance against the plan: steering control and go/no go control.

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Definitions:

Sub-Contracting

The practice of a company hiring a third-party to perform tasks, handle operations or provide services that are either difficult to manage or outside the company's expertise.

Discount Rate

The discount rate that is used to compute the present value of forthcoming cash flows.

Annual Payments

Recurring payments made once a year.

Compounded Monthly

Determining interest on a monthly schedule by including both the initial principal and previously earned interest in the calculation.