Describe the Project Life Cycle

question 19

Essay

Describe the project life cycle.

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Definitions:

Implied Term

A condition or element not expressly mentioned in a contract but assumed to be included by virtue of the nature of the agreement or the circumstances under which it was made.

Second-Hand Dealer

A business or individual that buys and sells used goods.

Security Interest

A legal claim or lien on collateral that has been pledged, usually to secure repayment of a debt.

Clear Title

Ownership that is free of liens, disputes, or legal questions, fully enabling the transfer to another party.