The project scope is probably the most overlooked deliverable in modern project management practice. The project scope is the road map to project completion, yet many projects, especially in large companies (e.g., Fortune 500), do not have a project scope. There is a direct link between the success/failure of the project and the existence of a project scope.
Explain why it is important to deliver a comprehensive scope statement at the beginning of the project. Are there any instances where the scope statement can or should be omitted?
The success or failure of any project depends on the project manager’s ability to control the triple constraint. Cost, schedule, and scope are directly related, thus an inability to control and monitor each one of these constraints will result in total failure. Describe some of the techniques that project managers can employ to control the triple constraint.
Aggregate expenditure is the total amount of spending in the economy that determines the level of the GDP. Components of aggregate expenditure are autonomous expenditure, planned private investments, government expenditure, and net exports. When autonomous expenditure increases or decreases, it has a multiplied effect on the GDP.
Referring to the 10-year historical period 1980-1990, discuss an example of a change in autonomous spending. Research a government policy implemented during that time and discuss the multiplier effect it had on the economy.