Which of the following outcomes is not a reason for project success? a) To be completed on time b) To be within the budget c) To be below the desired performance level d) To use resources efficiently and effectively
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Which of the following outcomes is not a reason for project success?
a) To be completed on time
b) To be within the budget
c) To be below the desired performance level
d) To use resources efficiently and effectively
Which of the following features does not have a significant contribution to the formation of an effective project team?
a) Ideal and complementary skill set
b) Clear and shared goal
c) Clear definition of responsibility
d) Top management support
e) Friendly relations
Which of the following is not one of the basic rules to be followed when developing project networks?
a) Flow is from left to right.
b) There is a starting node and an ending node for each network.
c) Each activity should have a unique label.
d) The label of each activity should be larger than the previous activities.
e) For an activity to start, all subsequent activities must be completed.
Step by step
Solved in 3 steps
