An Activity Has an Expected Duration and an Expected Cost

question 82

Multiple Choice

An activity has an expected duration and an expected cost.Another name for an activity is a(n) :

• A)Work package.
• B)Node.
• C)Critical path.
• D)Event.

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Definitions:

Fixed Price Contract

A type of contract where the payment amount does not depend on resources used or time expended, providing certainty about the total project cost.

Price Adjustment

The process of altering the price of goods or services in response to market conditions, contract terms, or cost changes.

Short Projects

Projects characterized by their limited duration and scope, typically requiring swift execution and delivery within a constrained timeline.

Scope Of Work

A detailed document that outlines the objectives, deliverables, and specific tasks required to complete a project.