Project Management Is Important to Understand When People Are a Part

question 44

Multiple Choice

Project management is important to understand when people are a part of a project team because they

• A)Work with others to create a schedule and budget.
• B)Need to understand project priorities so they can make independent decisions.
• C)Need to be able to monitor and report project progress.
• D)Need to understand the project charter or scope statement that defines the objectives and parameters of the project.
• E)All of these are reasons it is important for project team members to understand project management.

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Definitions:

Unconsummated Transaction

A transaction that is proposed but not finalized or completed.

Tax Rate

The percentage at which an individual or corporation is taxed on earned income, investments, or properties.

Buyer Surplus

The difference between the buyer’s value (what he is willing to pay) and the price (what he has to pay).

Seller Surplus

The difference between price (what the seller is able to sell for) and the seller’s value (what she is willing to sell for).