Scope definition is defined by PMI as ''decomposing the major deliverables into smaller, more manageable components to provide better control.''
The chart of accounts is the system used to monitor project costs as defined by PMI.
A stakeholder is an individual or organization that is involved in or may be affected by project activities.
The actual payback period is between two years and three years. It is the point where the net or cumulative cash flows equal zero. This occurs between year 2 and 3 and is 2 and 29/30 of a year from the first cash flow. Cumulative cash flow in years are: 1, -500,000; 2, -290,000; 3, +10,000.
The net cash flow is the total of all the ...