Question

During the __________ stage of the project lifecycle, there is no significant difference in the importance that project managers place on the three goals of cost, time, and performance.

a) Planning
b) Execution
c) Closure
d) Initiation

Answer 1

During the planning stage of the project lifecycle, importance is equally placed on the project goals of cost, time, and performance as project managers work to balance these constraints.

Step-by-step explanation:

During the planning stage of the project lifecycle, there is no significant difference in the importance that project managers place on the three goals of cost, time, and performance. This stage involves setting clear objectives and developing a detailed plan that outlines the project scope, schedule, and budget. At this point, project managers strive to balance these three constraints, often referred to as the project management triangle or triple constraint, to ensure a successful outcome. The balancing act between cost, time, and performance is crucial during the planning phase as it sets the foundation for the entire project.