The 100% Rule Suggests That Before a PERT Chart Is

question 28

Multiple Choice

The 100% rule suggests that before a PERT chart is done,a project manager must:

• A) Make sure 100% of the project is funded.
• B) Make sure the project team is devoted solely or 100%, to this project.
• C) Make sure that each person on the project team got 100% on their project management final exam.
• D) Make sure 100% of the project tasks are defined.

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Definitions:

Budgeting

The process of creating financial plans for a set period, including estimating revenues, expenses, and capital needs.

Activity Variance

The difference between the budgeted costs based on expected activity levels and the actual costs incurred, usually used in flexible budgeting.

Net Operating Income

The income from a company's operations after deducting operating expenses, excluding revenue and expenses from non-operational activities.

Budgeting

The process of creating a plan to spend your money, outlining expected revenues and expenses.