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In what situations will a static budget be most effective in evaluating a manager's effectiveness?
In what situations will a static budget be most effective in evaluating a manager's effectiveness? A. The company has substantial variable costs. B. The planned activity levels match actual activity levels. C. The company has substantial fixed costs. D. The company has no fixed costs.
What essential information should a project manager include in their cheat sheet for effective project management?
A project manager's cheat sheet for effective project management should include key project milestones, deadlines, team member roles and responsibilities, communication plan, budget details, risk assessment, and contingency plans.
Are project managers responsible for budget requirements?
Yes & No. The Project Manager is responsible for running the project within budget but the overall project budget is allocated by the Senior Management or in some cases the Customer. The project manager works on the budget given to him and then manages the project in a way that he is within budget
What are the key characteristics that make a project manager successful in leading and delivering projects effectively?
Key characteristics that make a project manager successful in leading and delivering projects effectively include strong communication skills, effective time management, the ability to problem-solve and make decisions, leadership skills, adaptability, and a focus on achieving goals within budget and timeline constraints.
What is a percentage fee for a project manager from the overall project budget?
Project managers are not usually hired on a %fee basis but on a contract.
In what situations will a static budget be most effective in evaluating a manager's effectiveness?
In what situations will a static budget be most effective in evaluating a manager's effectiveness? A. The company has substantial variable costs. B. The planned activity levels match actual activity levels. C. The company has substantial fixed costs. D. The company has no fixed costs.
What is an effective method for evaluating a cost center?
Cost centers generate expenses only. A comparison of the actual expenses with the flexible budget amounts allowed at that level is the most effective.
What is controllable spending?
Controllable spending is simply spending that a given manager has control over. Controllable spending is examined in evaluating the budget performance of the manager who had control, in seeing how well he managed costs for his unit.
A statistic planning budget is suitable for planning and for evaluating how well costs are controlled true or false?
A static planning budget is suitable for planning and for evaluating how well costs are controlled.
How do you make a plan for evaluating a business?
A business plan is a great tool for evaluating a business. It provides benchmarks, budget, predictions for future development.
Who approves capital budget?
The project manager
What essential information should a project manager include in their cheat sheet for effective project management?
A project manager's cheat sheet for effective project management should include key project milestones, deadlines, team member roles and responsibilities, communication plan, budget details, risk assessment, and contingency plans.
What are the key features of the 7wbb framework for effective project management?
The key features of the 7wbb framework for effective project management include defining the project's purpose, setting clear goals, establishing a budget and timeline, assigning roles and responsibilities, monitoring progress, addressing risks, and evaluating outcomes.
Are project managers responsible for budget requirements?
Yes & No. The Project Manager is responsible for running the project within budget but the overall project budget is allocated by the Senior Management or in some cases the Customer. The project manager works on the budget given to him and then manages the project in a way that he is within budget
What information is found on a flexible budget report?
Flexible budget reports are another type of internal report. The flexible budget report consists of two sections: (1) production data for a selected activity index, such as direct labor hours, and (2) cost data for variable and fixed costs. The report provides a basis for evaluating a manager's performance in two areas: production control and cost control. Flexible budget reports are widely used in production and service departments.
Which of the following situations could cause a budget deficit for the federal government?
there is a recession
An important problem in evaluating public projects through the use of cost benefit analysis is that?
You can find out what you need to have as your budget. Sometimes you need to make adjustments in order to stay within the budget.
