When a Project Starts with a High Priority but It

question 8

Multiple Choice

When a project starts with a high priority but it is canceled because its rank erodes or crashes during its project life cycle.This is an example of what type of project closure?

• A)Normal
• B)Premature
• C)Perpetual
• D)Failed project
• E)Changed priority

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Definitions:

Materials Price Variance

The difference between the actual cost of materials purchased and the expected cost based on the standard price.

Materials Quantity Variance

The variance between the actual and projected amounts of materials consumed in manufacturing, multiplied by the unit's standard cost.

Standard Cost

An estimated or pre-determined cost of manufacturing a product, which is used for budgeting and performance evaluation.

Fixed Overhead Volume Variance

The difference between the budgeted and actual fixed overhead costs, attributed to variations in production volume.