Committed costs are subset of uncontrollable costs

Assignment Help Operation Management

Reference no: EM132229309

1. Committed costs are a subset of uncontrollable costs. Which of the following is/are an example(s) of commitments?

Preventative maintenance activities

Furniture replacement in the finance department

Service contract for landscaping

A long-term lease spanning multiple years

2. A best practice for major projects is a multi-tiered approval approach and should follow which order?

Project should be approved in concept, then project budget & finally expenditures should be approved

Project budget, then approved in concept & then expenditures

A concept budget should initially be approved and then expenditures as they take place

None of the above

3. After bidding takes place, and the successful bidder is identified, a pre-construction meeting should take place. Which is not a reason to hold a pre-construction meeting?

Confirm the scope of work

Ensure the contractor's pricing matches scope

To discuss contract requirements, insurance, and perhaps payment request format

Confirm detailed cost estimates and specific delivery schedules

4. Chargebacks are more likely to be found in the private sector and are considered advantageous for the following reason(s):

Less burdensome than other accounting methodologies

May make FM costs more transparent

From customer's standpoint, makes the FM earn their business

Increase the flexibility of the FM

5. A variety of tools are used by the CFO to determine a "go" or "no go" for decisions relating to asset allocation. With competing requirements for scarce resources, which of the following may be used to help the CFO prioritize projects?

Return on Investment (ROI)

Net Present Value (NPV)

Internal Rate of Return

All of the above

Reference no: EM132229309

Questions Cloud

Fulfillment process changes customer accounts : Which of the following steps, after executed, in the fulfillment process changes the customer's accounts receivable account

How the student met the competencies aligned to the course : Students will outline what they have discovered about their professional practice, personal strengths and weaknesses that surfaced, additional resources.

Development and budgeting of company capital program : What are reasons the finance department should oversee the development and budgeting of a company's capital program?

Describe the scholarly activity that you attended : This section consists of a single paragraph that succinctly describes the scholarly activity that you attended/participated in, the target market.

Committed costs are subset of uncontrollable costs : Committed costs are a subset of uncontrollable costs. Which of the following is/are an example(s) of commitments?

Risk identification and risk treatment : BSBRSK501 - Manage risk - Rmit university - Identify risks that exist within your department or organisation - Create a treatment plan for the three risks

What is a a pattern of special characters : What is a a pattern of special characters used to match strings in a search; t ypically made up from special characters called metacharacters?

Privacy and intellectual property : Discuss social issues raised by technology regarding privacy and intellectual property

Lease options are often found in lease agreements : Lease options are often found in lease agreements and could be beneficial because. Which of the following is not a characteristic of a FM's annual budget?

User Account

All Pages