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Question :
(a) A project must have a useful purpose. Therefore, as a project is evaluated, the team should determine the requirements of the local community and industry. These requirements are often categorized as needs, desires and luxuries. Differentiate these three categories.
(b) During the beginning phases of a project, the project manager often prepares initial costs needed to complete a given item within the project and estimates for the time. Costs are normally subdivided in a variety of categories. Briefly describe the following categories:
(i) Direct Costs (ii) Variable Costs (iii) Fixed Costs (iv) Overhead Costs and Rates (v) Indirect Costs
Inventory is sometimes thought of as a necessary evil. Explain. Inventory ties up funds and these types of funds are not earning an explicit return. A few inventory is often es
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how would you judge the potential profit of Bajaj Electronics on the first year of sales to Booth Plastics and give your views to increase the profit?
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