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balandron [24]
3 years ago
9

The written statements that define the extent and quality of work to be done are called the ?

Business
1 answer:
Tresset [83]3 years ago
8 0

Answer:

Specifications.

Explanation:

Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.

The fundamentals of Project Management are considered universal across most businesses and professions.

The fundamentals of Project Management includes;

1. Project initiation

2. Project planning

3. Project execution

4. Monitoring and controlling of the project

5. Adapting and closure of project.

In project management, the written statements that define the extent and quality of work to be done are called the specifications.

Basically, the specifications of a project or manufacturing process outlines the minimum requirements and quality that are acceptable. Thus, it must be adhered to strictly in order to achieve a successful and desired outcome.

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A batch of 40 car batteries required $200 of directmaterials and 10 direct labor hours at $15 per hour.Estimated total overhead
igomit [66]

Answer:

The cost of the batch amounts to $350

Explanation:

Cost of the batch is the expense or cost which is incurred in order to make the product or good in order to earn profit.

The cost of the batch is computed as:

Cost of batch = Direct material + Direct Labor

where

Direct material is $200

Direct Labor is computed as:

Direct labor = Hours × Rate per hour

= 10 × $15

= $150

Putting the values above:

Cost of batch = $200 + $150

Cost of batch = $350

7 0
3 years ago
People like consuming peanut butter and jelly together. The price of peanuts increases. At the same time, we see the price for J
Butoxors [25]

Answer:

The correct answer is:  increase; decrease.

Explanation:

According to the demand theory if the price of a good increases the quantity demanded decreases. If the price of the good decreases, the quantity demanded increases. We can say then that the relationship between the price and the quantity demanded is inversely proportional.

In that case, if peanut butter and jelly are usually sold together and the price of jelly increases, so will the price of the peanut butter. Thus, the quantity demanded of both the peanut butter and jelly will decrease.

8 0
4 years ago
Kenneth made a $20,000 investment in year 1, received a $5,000 return in year 2, made an $8,000 cash payment in year 3, and rece
riadik2000 [5.3K]

Answer:

Investment = 20,000

Return 2 = 5,000

Payment y3 = 8,000

Initial Investment = 20,000

NPV = -$5,881.89

Explanation:

8 0
3 years ago
Compare and contrast the product vs. process layouts. What are the advantages & disadvantages? List examples of products tha
Contact [7]

Answer:

Explained below.

Explanation:

With a product layout, equipment breakdown has serious implications because the separate pieces of equipment are closely tied together. If one piece of equipment fails, the line will quickly come to a halt. Consequently, preventive maintenance to reduce the failure rate is advisable. In contrast, a process layout often contains duplicative equipment so that if one particular piece of equipment fails, the work can usually be shifted to another piece of equipment. Consequently, there is less need for preventive maintenance and less need for repair of equipment when it does break down. Moreover, process layouts utilize more skilled workers who tend to take better care of the equipment than the lower-skilled workers do in a product layout system.

* The main advantages regarding the product layouts include:

a. A potentially huge rate of output.

b. Lowering unit costs.

c. Low training costs and a broad span of supervision due to specialization.

d. The low unit price concerning material administration.

e. High utilization of labor and tools.

f. Routing as well scheduling are being built into the design.

g. Accounting, purchasing, including inventory control are routine.

* The main disadvantages regarding the product layouts include:

a. Specialization can lead to dull, repetitive jobs with little opportunity for personal satisfaction or creativity.

b. Workers may have little interest in maintaining equipment or in the quality of output.

c. The system is not particularly adaptable to changes in process design or changes in the volume of output.

d. The system is highly susceptible to shutdowns caused by equipment failure or excessive absenteeism.

e. Preventive maintenance costs and the capacity for quick repairs are necessary to ensure high utilization.

f. Incentive plans tied to individual output are impractical.

* The main advantages regarding the process layouts are:

a. They can manage a variety of processing requirements.

b. They are less vulnerable to equipment failures than product layouts are.

c. The general-purpose tools used often are less costly than the specialized equipment used in product layouts. It is also usually easier and less costly to manage and repair.

d. Specific stimulation systems are possible.

* The main disadvantages regarding the process layouts are:

a. Work-in-process inventory costs can be high (in manufacturing).

b. Routing and scheduling must be done for each new job.

c. Equipment utilization valuations are habitually low.

d. Material handling is slower, less efficient, and more costly per unit than is the case in a product layout.

* Example of product layout includes self-service cafes, car assembly as well as car valeting.

* Example of process layout are milling, drilling, grinding, hydraulic presses, as well as lathes)

7 0
3 years ago
The purpose of the Smb all Business Administration is to
denpristay [2]

C. Gives free advice to small businesses

Hope it helps!!

6 0
3 years ago
Read 2 more answers
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