Which of These Is NOT Characteristic of a Project

question 100

Multiple Choice

Which of these is NOT characteristic of a project?

• A)Projects are responsible for the newest and most improved products,services,and organizational processes.
• B)Projects are ad hoc endeavors with a clear life cycle.
• C)Projects provide a philosophy and strategy for the management of change.
• D)Traditional process management functions of planning,organizing,and controlling do not apply to project management.

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, reflecting the potential benefits one misses out on when choosing one option over another.

Bowed Outward

Describes a curve on a graph, typically a production possibility frontier, indicating increasing opportunity costs when shifting resources between two goods.

Opportunity Cost

The cost of choosing one option over another, typically the best alternative forgone as a result of making a decision.

Efficient

Efficiency refers to the optimal production and distribution of resources in a way that best meets the needs and desires of consumers.