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Q. What is a project?
The term project appears to be a buzzword that means a lot of different things to different people. Anything for instance from a secretary's "project" to clean out an old filing cabinet to an engineer's "project" to create a multi-million dollar facility. Even these boundaries have one thing in common that is the application of work or effort to create a new situation or product, where "product" is used in its broadest sense. Therefore a project is able to be any undertaking with a definite starting point and one or more defined objectives the completion of which spell out the end of the project. It must be added that for one reason or another most projects are restricted by limits imposed on resources (equipment, effort and materials) time and money.
Contract Management There are many things involved in a project risk policy. One of them is contract management. Various kinds of contract can have an impact on the success of
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Question : (a) What are the distinguishing characteristics of a project? (b) What are the four types of consequences of risk? (c) Explain what you understand by the term
Selection criteria for Product One or few standard products Large volume of production of every item over considerable period of time. Possibility of time an
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