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What do you mean by fixed costs?
Fixed Cost:
Cost may be described as the amount of expenditure incurred upon, or attributable to a specified thing. Fixed costs are such costs that tend to remain constant irrespective of the volume of output or sales. Illustrations of fixed costs as given below: staff salaries, administration expenses, rent and establishment charges as well as depreciation.
Supplier Quality System For important purchases, ensuring acceptable supplier quality is critical. Conducting supplier quality audit is one of the steps in making sure the sele
The Arena model has been designed to simulate the workflow of the emergency room as accurately as possible. It has one top-level model and two sub-models. Create Models In
Product/Service and Volume Flexibility Ability to respond fast to the customer's needs known as flexibility.Two forms of flexibility are product/ Service and volume flexibilit
Budgeted cost of work performed (BCWP), or "earned value" (EV), in project management is the budgeted cost of work that has truly been done in carrying out a scheduled task in a p
Question: (a) Explain what Deming meant by the following statements? What happens if you do not fulfill those principles? (i) Institute leadership. (ii) Drive out fear.
Explain the advantages AND disadvantages of having a matrix structure for managing a project. For projects that require a range of skills and involvement of staff from dissimil
Scope Management and Health Checks
Ideally, the need for an IS project would be given in some detail before planning begins. When the requirement is not detailed adequate, what steps can the project manager take to
What do you mean by variable costs? Variable costs conversely, tend to vary directly along with the volume of output. Illustrations of variable cost are as given below: direct
Explain about the term cost/benefit analyses. Cost/benefit analyse: Cost/benefit analysis is the procedure of knowing, and as far as probable quantifying, the costs of res
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