Which of the Following Is the Last Phase in the NIST

question 15

Multiple Choice

Which of the following is the last phase in the NIST process for performance measures implementation?

• A) Apply corrective actions
• B) Obtain resources
• C) Document the process
• D) Develop the business case

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Definitions:

Indirect Expenses

Costs that are not directly traceable to a specific cost object, such as overhead costs for running the business.

Contribution Margin

The amount by which a product's sales revenue exceeds its variable costs, indicating how much it contributes to covering fixed costs and generating profit.

Departmental Performance

refers to the evaluation of how individual departments within an organization are performing, often measured by financial results, productivity, and achievement of goals.

Advancements in Technology

Ongoing progress and developments in technology that enhance capabilities, improve efficiency, and contribute to various sectors like business, medicine, and education.