Question: Please give proper explanation and Typed answer only. 7. Explain some of the basic principles of cost management, such as profits, life cycle costs, tangible

Please give proper explanation and Typed answer only.

7. Explain some of the basic principles of cost management, such as profits, life cycle costs, tangible and intangible costs and benefits, direct and indirect costs, and reserves. Why is defining activities a process of project time management instead of project scope management
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