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VARVARA [1.3K]
3 years ago
5

A project is chartered to determine new ways to extend the product life of one of the company's medium-producing products. The p

roject manager comes from the engineering department, and the team comes from the product management and marketing departments. The project scope statement and project planning are completed when a stakeholder notifies the team that there is a better way to complete one of the work packages. The stakeholder supplies a technical review letter from his department proving that the new way to complete the work package will actually be faster than the old way. The project manager has had similar experiences with this department on other projects, and was expecting this to happen on this project. What is the first thing the project manager should do
Business
1 answer:
natita [175]3 years ago
5 0

Answer: A. Look for how this change will impact the cost to complete the work package and the  quality of the product of the work package.

Explanation:

More efficiency in the company's operations is always welcome so if the stakeholder has an idea that can make things better, it should be considered.

It should however, only be considered if it meets certain criteria such as: having a cost that will not significantly impart the cost to complete the work package or at least if it did, its contributed to the quality of the work package should be such that it is significant enough to cover the increased costs.

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Answer:

500%

Explanation:

Given that,

Income elasticity of demand = 2.5

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Therefore, percentage change in consumer income:

= [($300 - $100) ÷ $100] × 100

=  [$200 ÷ $100] × 100

= 200%

Income elasticity of demand = (% change in Quantity demanded) ÷ (% change in income)

2.5 = (% change in Quantity demanded) ÷ 200%

Hence,

% change in Quantity demanded = 2.5 × 200%

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