At the Beginning of the Project, It May Not Be

question 62

Multiple Choice

At the beginning of the project, it may not be possible to estimate the costs for all activities with a level of confidence regarding their accuracy.This is especially true for

• A) projects with a short term.
• B) longer-term projects.
• C) projects that are similar to ones completed by the organization before.
• D) projects with activities that are serially related.

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Definitions:

Maximum Permissible

The highest amount or level of something that is allowed by legal or regulatory standards.

Commercially Impracticable

A legal principle that excuses a party from fulfilling a contract if unforeseen events make it extremely difficult or costly to do so.

Major Reconstruction

Involves significant rebuilding or making extensive repairs to a structure or infrastructure, usually to restore its usability or to improve its functionality.

Fixtures

Items that are originally personal property but become real property when attached in a permanent manner to real estate.