Assigning Values to Costs and Benefits Involves Making Some Difficult

question 154

Essay

Assigning values to costs and benefits involves making some difficult predictions of the future. How can the project team improve the accuracy of these estimates?

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Definitions:

Psychological Hardiness

A personality trait characterized by resilience and the capability to endure stressful situations effectively.

Suzanne Kobasa

A psychologist known for her research on stress, specifically the concept of stress resilience and the "hardiness" personality trait.

Commitment

The state or quality of being dedicated to a cause, activity, or goal, often involving a promise or firm decision to do something.

Challenge

Any task or situation that tests someone's abilities in a way that is stimulating, demanding, or requires an effort to overcome.