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Question: (a) Describe why risk management is a crucial component of project management. (b) Critically show the different responses to risks that should be developed ear
What do you mean by fixed costs? Fixed Cost: Cost may be described as the amount of expenditure incurred upon, or attributable to a specified thing. Fixed costs are such
Quantitative Layout Analysis - Correlation Chart In this technique we draw a gird with rows presenting alternative solutions. Plant item can be a ground floor (G >F) First fl
Project control processes cannot be overemphasised in their significance to the success of a project. The project manager must continually take a pro-active approach in controlling
Which of the following statements about variable and fixed expenses, as they relate to relevance , is/ are true? (1) Variable expenses may or may not be, relevant costs? (2) Varia
What type of relationship and reporting arrangements must the project manager have with the sponsor? The sponsor of a project shows the management of the organisation which com
P areto charts It is a very helpful tool to identify the greatest opportunity for improvement among various possibilities and to identify the small number of most inf
Critical Path about wedding planning
Explain the terms "product" and "work package" and describe how these are related to each other. A product is a particular deliverable from a project and this may also make a wo
How are carrying costs varied with quantity order? Carrying Costs, that vary along with quantity ordered, contained as a. There Interest on capital investment b. There Co
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