To Motivate Engineers to Design Simpler Products, Costs for Production

question 75

True/False

To motivate engineers to design simpler products, costs for production, distribution, and customer service may be included in product-cost estimates.

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Definitions:

Budget Baseline

A reference point in the project budgeting process that represents the approved plan for project expenditure, against which actual costs are measured.

Internal Rate Of Return

Internal Rate of Return (IRR) is a financial metric used to evaluate the profitability of potential investments by calculating the rate of return that sets the net present value of all cash flows to zero.

Economic Ratings

Evaluations or rankings based on financial performance, stability, or investment attractiveness of entities or countries.

Project Champions

Individuals within an organization who advocate for and support a project, ensuring it receives necessary resources and attention.