Contemporary Project Management, questions

2. Explain the "time value of money" and why it is important in project management.
4. Difference between direct and indirect costs
6. A rockslide closes down a major highway on your delivery route and leads to unforeseen costs. Does the extra money needed come from contingency reserves, management reserves, or elsewhere? Why?
8. The order of magnitude budget estimate you created during chartering is deemed by your sponsor to cost far more than your organization is willing to spend on your project. What are your options as a project manager?
10. Identify and briefly describe the steps in PDCA module. Why is it used in project management?
12. 
    

Answer rating: 100% (QA)

Answer 1 The time value of money refers to the principle that money available today is worth more than the same amount in the future due to its potential earning capacity In project management this co... View the full answer