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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
Suggestion regarding Credit limit. Should it be approved or not, what should be the amount of credit limit that electronics give to Booth Plastics.
4
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A total of $426,000 seed-funding would be ideal to start the project on a local basis. The cost analysis done above is for the material required to perform the work, and as the wor
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