
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Question
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If objectives are thought of as statements of where one wants to go, then a(n) ________ plan is a map that tells them how to get there.
a. operational
b. strategic
c. contingency
d. action
QUESTION 7
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A(n) ________ is defined as a plan for spending money.
a. budget
b. contingency plan
c. schedule d. action plan
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- 28 The beta distribution is used in project management to: Select one: a. calculate pessimistic and optimistic activity times. b. calculate slack on activities not on the critical path. c. calculate the probability that a project will be completed within its budget. d. determine which activity should be crashed. e. none of thesearrow_forwardPlease provide feedback and reaction to discussion below. A project is a “temporary activity launched for a specific purpose, to carry out a particular objective” (Wallace, 2020, p. 354). Projects are generally special and specific to a certain task. They also can contain many complicated or long-term steps that are needed to complete the project. In a project, steps and tasks are not always straight to the point. Because projects are unique, there are constraints to be followed. These constraints are forces that consists of time consumption, costs and budgets, and scope (Wallace, 2020). These forces work hand in hand and affect each other differently. A process is different from a project and generally less complicated. While projects contain complicated and elongated steps, processes are usually shorter and straight to the point. A process “is a series of events designed to deliver a product or service that is repeated over and over” (Wallace, 2020, p. 354). In order to keep the…arrow_forward
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