How is the optimum cost-time point determined? What are the conditions that must exist for one to be present at a project duration other than the duration originally created under normal conditions?
Fill in the blank(s) with the appropriate word(s).
Answer will vary
The optimum cost-time point is the point in the project when total costs (direct costs + indirect costs) are the least. As a project duration is reduced, direct costs increase and indirect costs will decrease each time unit. The savings from indirect costs must be larger than the increase in direct costs in order for an optimum cost-point to be present at a duration other than the duration originally created under normal conditions.
You might also like to view...
Which of the following productivity measures would not be part of category management?
a. sales per capita b. sales per linear foot of shelf space c. direct product profitability d. return on inventory investment
Choose the correct word or words in parentheses. Do you know (who, whom) the visitor was?
What are the three basic types of audit opinion, and what is the meaning of each? Which type of opinion is the most favorable? Which is the most negative?
What will be an ideal response?
What is the probability that four of the five canoes will capsize?