For a Project Selected Using Nonnumeric Models,identify the True Statement

question 31

Multiple Choice

For a project selected using nonnumeric models,identify the true statement regarding relative priorities for project selection.

• A)Operating necessity projects have priority over competitive necessity projects.
• B)Competitive necessity projects have priority over operating necessity projects.
• C)Operating necessity and competitive necessity projects have equal priority.
• D)Product line extension projects have priority over operating necessity projects.

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Definitions:

Need Identification

The process of determining and defining the requirements or needs of consumers or businesses.

Pareto Analysis

A statistical technique used to identify the most significant factors in a dataset, based on the principle that a small number of causes typically lead to a large majority of the effects.

Strategic Purchase

The acquisition of goods or services with a forward-looking approach, considering long-term benefits and alignment with an organization's goals.

Description by Brand

An approach to defining or describing products and services based on their brand identity or brand characteristics.