Project Managers Who Do Not Understand the Role That Their

question 82

Multiple Choice

Project managers who do not understand the role that their project plays in accomplishing the organization's strategy tend to make all the following mistakes except:

• A)Focusing on low priority problems
• B)Overemphasizing technology as an end in and of itself
• C)Focusing on the immediate customer
• D)Trying to solve every customer issue
• E)All the above are likely mistakes

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market equilibrium price.

Consumer Surplus

The contrast between the aggregate amount buyers are willing to shell out for a good or service and the total they actually do.

Total Surplus

The combined benefit that both consumers and producers receive from a transaction, comprising consumer and producer surplus.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service (indicated by the demand curve) and the total amount that they actually do pay (i.e., the market price).