What Are Project Assumptions

question 138

Multiple Choice

What are project assumptions?

• A)specific factors that can limit options
• B)factors that are considered to be true, real, or certain without proof or demonstration
• C)quantifiable criteria that must be met for the project to be considered a success
• D)a document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities

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Definitions:

Fixed Overhead

Indirect costs of production that are not affected by the volume of production, such as rent, salaries, and utilities.

Materials Price Variance

The difference between the actual cost of materials used in production and the expected (or standard) cost.

Production Department

A specific division within a company focused on the manufacture of goods and products.

Variance Reports

Documents that compare actual performance to planned or budgeted performance, highlighting differences or "variances."