Which Statement Regarding the Project Management Institute's Project Management Body

question 34

Multiple Choice

Which statement regarding the Project Management Institute's Project Management Body of Knowledge (PMBoK) is BEST?

• A)The PMBoK consists of seven knowledge areas of project management skills and activities.
• B)Each element of the iron triangle is represented by its own area.
• C)Project risk management is part of the integration section.
• D)The institute's position that a properly planned project will not require any changes precludes the need for change control in the model.

---

Definitions:

Completed Unit

A unit of product that has undergone all stages of production and is ready for sale or distribution.

First-in

Refers to the 'First-In, First-Out' (FIFO) inventory valuation method where the first items acquired are the first ones sold.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, converting them into the amount of finished goods units.

Equivalent Units

An approach utilized in process costing to translate partially finished units into an equivalent number of completely finished units.