0
Opportunity cost - This refers to selecting a project over another due to the scarcity of resources. In other words, by spending this rupee on this project, you are passing on the opportunity to spend this rupee on another project. How big an opportunity are you missing? The smaller the opportunity cost, the better it is.
Opportunity Cost is a technique that is used in project selection
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is an increase in opportunity cost?
an increase in oppourtunity cost is rasing of chicken and rice.
If the opportunity cost of capital for a project exceeds the projects IRR then the project has a NPV negative?
If the opportunity cost of capital for a project exceeds the Project's IRR, then the project has a(n)
When determining the cost of an item the seller will often analyze the demand as well as the supply before setting the price of the?
When determining the cost of an item, the seller will often analyze the demand as well as the supply before setting the price of the
What is cost estimating cost benefit analysis in project management?
EMINEM
Why cost estimation is the most challenging tasks in project management?
I wouldn't consider it the most challenging, but it is challenging. The problem is that there are lots of unknowns when it comes to costs for a project, especially a software project, where changes are always there. The Project Manager has the tough job to balance between the cost estimation and keep the project in check of its budget. There are lots of cost estimating techniques out there.
What is an oppourtunity cost?
When Mutual exclusive decision is to be made or projects to be selected, the benefit which is left due to selection of one project instead of other project is the 'Opportunity Cost' for selecting one project over other. Example: Project 1 benefit = 100000 Project 2 benefit = 200000 Opportunity cost for project 1 = 200000 Opportunity cost for project 2 = 100000
What is an increase in opportunity cost?
an increase in oppourtunity cost is rasing of chicken and rice.
What is an oppourtunity cost to a government offering a tax break to businesses that invest in new machinery?
a decrease in the amount of money collected
What is the Canadian spelling of oppourtunity?
It's only spelled "oppourtunity" if it refers to a group. Otherwise the correct spelling is "opportunity"
What is Project cost control vs approved budget in project management?
Project cost control is comparing the actual project cost against planned project cost.
What is a project list?
A project list identifies potential projects that may interest an organization. Managers analyze each project to determine which project complements the organization's strategy.
What kind of software allows a user to plan schedule track and analyze the events resources and costs of a project?
Project management
Who was an early project management software product that helped managers analyze complex schedules for designing aircraft?
Artemis was an early project management software product that helped managers analyze complex schedules for designing aircraft!
What is the meaning of managing risks?
In Project Management Terms: Risk Management is a process dedicated to identify, analyze, and respond to project risks.
What allows a user to plan track analyze events schedule?
Project Management Software
If the opportunity cost of capital for a project exceeds the projects IRR then the project has a NPV negative?
If the opportunity cost of capital for a project exceeds the Project's IRR, then the project has a(n)
Importance cost management in a project?
Cost Management is critical to Project Management. A project cannot be initiated with Cost Management not in place, since cost management is about estimating, budgeting, monitoring, and analyzing the cost information.
