1. Discuss why many IT professionals may overlook project cost management and how this might affect the ability to complete projects within budget. Explain what happens during the process to determine project budget. 2. What is meant by a sunk cost? Give examples of typical sunk costs for an IT project as well as examples from your personal lífe. Why is it difficult for people to ignore them when they should?

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
Question
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1. Discuss why many IT professionals may overlook project cost management and
how this might affect the ability to complete projects within budget. Explain what
happens during the process to determine project budget.
2. What is meant by a sunk cost? Give examples of typical sunk costs for an IT project
as well as examples from your personal life. Why is it difficult for people to ignore
them when they should?
Transcribed Image Text:1. Discuss why many IT professionals may overlook project cost management and how this might affect the ability to complete projects within budget. Explain what happens during the process to determine project budget. 2. What is meant by a sunk cost? Give examples of typical sunk costs for an IT project as well as examples from your personal life. Why is it difficult for people to ignore them when they should?
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