The Project Management Body of Knowledge Guide Definition of a Project

question 81

Multiple Choice

The Project Management Body of Knowledge Guide definition of a project indicates that a project is:

• A)Multifunctional.
• B)Permanent.
• C)Designed to avoid using human resources.
• D)Not limited by a budget.

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Definitions:

Product Market

The market where end products or services are made available to consumers, businesses, and governmental bodies.

Determining Factors

Key elements that significantly influence the outcome or condition of a specific situation or context.

MRP

Marginal Revenue Product; the additional revenue generated by employing one more unit of a factor, like labor or capital.

Substitutes

Products or services that can be used in place of each other, where the presence of one reduces the demand for another.