13 ) The cost of choosing one project and giving up another is called A. Opportu

Question

13 ) The cost of choosing one project and giving up another is called A. Opportunity cost B. Sunk cost C. Net present value (NPV) D. Fixed cost 14) A team member notifies you, after the fact, that she has added extra functionality to the project There was no impact on the cost or schedule What should be done as a result of this change? A. Inform the customer B. Understand what functionality was added C. Implement change control processes to track the change D. Make sure marketing is aware of the change

Explanation / Answer

13) The correct answer is option A.

Opportunity cost is nothing but the loss that an individual get from one alternative because other alternative is choosen. So, when an alternative is given up it represents an opportunity cost.

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