Project management tools and techniques........................     Are used to select the appropriate and potential projects.     Assist project managers and their teams in carrying out works in all 10 knowledge areas.     Are mathematical models used to describe the progress of a project.     Are used to understand the enterprise environmental assets

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Project management tools and techniques........................
   
Are used to select the appropriate and potential projects.
   
Assist project managers and their teams in carrying out works in all 10 knowledge areas.
   
Are mathematical models used to describe the progress of a project.
   
Are used to understand the enterprise environmental assets
Expert Solution
Step 1 Introduction (explanation):-
Are used to select the appropriate and potential projects:- Project management tools and techniques are applied to the selected or ongoing projects. The selection of the projects is not done with the help of tools and techniques. 

Assist project managers and their teams in carrying out work in all 10 knowledge areas:- Project management tools and techniques help the managers in taking corrective actions related to the projects. Not all 10 knowledge areas are covered by project management. 

Mathematical models used to describe the progress of a project:- Tools and techniques of project management are the mathematical models that are commonly used to make projects going on. The best options and correct decisions are taken on the basis of the outcomes that one gets from using the tools and techniques.

Are used to understand the enterprise's environmental assets:- Project management's tools and techniques help in identifying the factors that may affect the decisions of the enterprises. 

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