People who are part of the project team need to understand project management because they Multiple Choice Need to understand the project charter or scope statement that defines the objectives and parameters of the project. Work with others to create a schedule and budget. Need to understand project priorities so they can make independent decisions. All of these are reasons it is important for project team members to understand project management. Need to be able to monitor and report project progress.

All of these are reasons it is important for project team members to understand project management.

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.

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.

It is very important and essential that project managers in various organizations, businesses and professions adopt the aforementioned fundamentals in order to successfully achieve their aim, objectives and goals set for a project.

Furthermore, members of the project team need to understand project management because they;

I. Are required to understand the project charter or scope statement that defines the objectives and parameters of the project.

II. Work with other members in the team to create a project schedule and budget.

III. Need to understand the priorities defined by the project manager, so they can make independent and well-informed decisions.

IV. Need to be able to monitor and report the progress of the project as they are being implemented or executed.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

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