20 A general contractor is managing a construction project that will add a new conference room to an existing office building. The project was documented in a fixed price contract that specified a completion date. The contract includes a damages clause imposing a late completion penalty of $1,000 per day if the conference room is not ready for use by June 30. One month into the implementation, the customer makes modifications to the room's soundproofing materials and notifies the general contractor of the new requirements. The new materials must be special ordered and will cause the critical path to slip. What are the triple constraints that will be altered by the modifications?" Scope, time, resources Scope, time, cost Time, cost, risk Cost, time, price 26 Match each purpose to its associated financial concept. Answer options may be used more than once or not at all. Select your answers from the pull-down list. To calculate the alternative use of money Internal rate of return To calculate future cash flows using time and interest rate Opportunity cost To calculate what money is worth today compared to in the future Payback period To calculate the time required to earn back the cost of a project Time value of money 31 Which activity is accomplished as part of the initiating process of a project? Developing the project budget Defining the project scope Performing a lessons learned review Selecting the project