________ Refers to the Application of Knowledge, Skills, Tools, and Techniques

question 67

Multiple Choice

________ refers to the application of knowledge, skills, tools, and techniques to achieve specific targets within specified budget and time constraints.

• A) Systems analysis
• B) Systems design
• C) Project management
• D) Project implementation
• E) Project scope

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Definitions:

Marginal Subcontracting Cost

The additional cost incurred for outsourcing a unit of production or service beyond the regular capacity or capability of the business.

Layoff Cost

The expenses associated with terminating employees, including severance pay, benefits continuation, and costs associated with changing the workforce.

Hiring And Training Cost

Expenses associated with recruiting, hiring, and training new employees, including advertising, interviewing, and educational materials.

Labor Hours

The number of work hours spent by employees on a particular job or task over a specified period.