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When a project is under way, how can value management be utilized to estimate proposed changes?
While potential changes to a project have been acknowledged, value management can be utilized to assess the business advantage that implementing them would generate and to compare this advantage with the costs of making the change. Therefore, value management can supplement conventional approaches to the change control.
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QUESTION (a) With reference to price elasticity of demand, discuss and illustrate the effects on government revenue of increasing value added tax on goods and services. (b)
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