When Events Occur at Discrete Points in Time

question 20

Multiple Choice

When events occur at discrete points in time,

• A)a simulation clock is required.
• B)the simulation advances to the next event.
• C)the model is a discrete-event simulation.
• D)All of these are correct.

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Definitions:

Increased Cost

A rise in the financial expenditure required for resources, materials, labor, or operations relative to initial estimates or historical norms.

Organizational Skills

The ability to use time, energy, resources, etc., efficiently and effectively to achieve desired outcomes.

Project Managers

Professionals responsible for planning, executing, and closing projects while managing the resources, scope, and stakeholders involved.

Complex Projects

Initiatives that are characterized by a high degree of uncertainty, risk, and interdependencies among various tasks.