The Standish Group's CHAOS Studies Reported an Average Cost Overrun

question 47

Multiple Choice

The Standish Group's CHAOS studies reported an average cost overrun for unsuccessful IT projects ranged from 180 percent in 1994 to ____ percent in 2004.

• A)28
• B)43
• C)56
• D)73

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Definitions:

Law Of Diminishing Returns

The principle that as successive increments of a variable resource are added to a fixed resource, the marginal product of the variable resource will eventually decrease.

Resource Inputs

The basic materials and components required in the production process to create goods or services.

Product Outputs

Product outputs refer to the goods or services produced as a result of manufacturing processes or business activities.

Total Costs

The total expense of production, encompassing both non-changing and changing costs.