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.

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Definitions:

Comparative Advantage

The capability of an entity, whether it be a person, company, or nation, to create a good or offer a service more efficiently, in terms of opportunity cost, than competitors.

Opportunity Costs

The value of the best alternative forgone in making any decision.

Production Possibility Frontier

A curve depicting the maximum attainable combinations of two products that may be produced with available resources.

Opportunity Costs

The disclaim of potential advantage from other options when a particular choice is favored.