The project's procurement cycle (plan, conduct and control) according to the PMBOK Guide has as its central objective that external procurement for the execution of the project effectively meets your needs.
<h3>Planning</h3>
Planning corresponds to the stage where the purchasing requirements for the project are identified. A working document is developed with a detailed and specific request for proposal and invitation to bid.
It is in the planning phase where potential suppliers and vendors for hiring are identified.
<h3>Conduction</h3>
During the conduction phase, the acquisition agreements are signed and a plan for project management is carried out, with information regarding the cost, budget and schedule of the chosen supplier.
<h3>Control</h3>
In the control phase, it is up to the project manager to review the agreements, monitor the flow of work, progress and team performance to meet the budget and schedule.
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Answer:
There are two basic ways of comparing spending between different countries:
- By using the official exchange rate and their nominal value. Since the US dollar is the most "powerful" currency in the world, local currencies are exchanged to US dollars, then spending is measured in nominal US dollar values.
- Purchasing power party uses the US dollar as the base currency for the world and then compensates for changes in the exchange rates. This is usually more accurate since it compensates the fact that less developed nations are cheaper than rich developed countries. For example, a house in Switzerland is worth much more than a similar house in Mexico, therefore, the PPP compensates for this differences.
Answer:
The answer is below
Explanation
Complements in economics is a term that is used to describe goods that are used or consumed together. For example, pencil and eraser, pen and paper, etc.
Complements are goods in economics whose value is increased when combined with other goods. Another example of complement goods is movies and popcorn
Answer:
Please see answer in the explanation below
Explanation:
Commodity money can be defined as money that its value comes from the commodity with which it was made. That is, commodity money is money that is gotten as a result of the material from which the money was made. Examples of these materials are silver, gold, etc. These materials have intrinsic value on their own as the materials have a worth of their own before being used to make currency.
Fiat money on the other hand is defined as money that is declared as the legal tender by the government. That means that fiat money is the money that is acceptable as a medium of exchange for goods and services as issued by the government. Fiat money does not have intrinsic value.
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