Good Procedures for Cost Control Include All of the Following

question 21

Multiple Choice

Good procedures for cost control include all of the following except:

• A)Systems that accurately capture data collection and other costs associated with the project on a daily basis.
• B)Policies and practices that quickly identify overbudget situations and then find causes and seek solutions.
• C)Daily reporting of costs to the communication liaison.
• D)Policies and practices that find and account for underbudget situations.
• E)Policies and practices in the research organization that require the liaison to communicate the budget picture to clients and to senior managers at the
• Research company.

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Definitions:

Authority

The power or right given to an individual or body to make decisions, issue commands, and enforce obedience within a specific scope or area.

Physical Controls

Security measures that are implemented to protect assets, including locks, surveillance cameras, and alarm systems.

Safeguard Assets

Measures or strategies implemented by a company to protect its assets from theft, damage, or misuse.

Automated System

A setup or process where tasks are performed with minimal human intervention, often through the use of technology or machinery.