The Key to Begin Harvesting the Benefits of a Project

question 6

Multiple Choice

The key to begin harvesting the benefits of a project is to first develop an effective:

• A)Client relationship with the project team.
• B)Measurement system for project use and value assessment.
• C)BOOT agreement that clearly stipulates when transfer of title occurs.
• D)Enterprise resource planning package to manage human,financial,and material resources.

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Definitions:

Sequential Method

A process or analytical approach where steps are followed in a specific, sequential order to achieve a desired result or solution.

Direct Method

A way of preparing a cash flow statement where actual cash receipts and payments are reported, rather than adjusting net income for accruals.

Reciprocal Method

An accounting technique used in managerial accounting to allocate costs between support departments, taking into account the mutual services they provide to each other.

Sequential Method

An approach to cost allocation in which support department costs are allocated to other support and operating departments sequentially, one after another, based on a predetermined order.