Which of the Following Statements Correctly Describes Project Management

question 42

Multiple Choice

Which of the following statements correctly describes project management?

• A) Project management applies knowledge,skills,tools and techniques to project activities.
• B) Project management should not involve tradeoffs between scope,schedule and cost.
• C) Project management only relies upon checklists to plan and execute the work.
• D) Project management's goal is to maintain efficiency of ongoing operations.

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Definitions:

Yield Management

A variable pricing strategy based on understanding, anticipating, and influencing consumer behavior to maximize revenue from a fixed, perishable resource.

Yield Management

A strategy used in industries with fixed capacities, like airlines or hotels, to maximize revenue through dynamic pricing and inventory control.

Discount Rate

The discount rate applied in the evaluation of discounted cash flow analysis to calculate the current value of future cash flows.