*Copper is a scarce resource, which increases its value. 30 seconds . *Consumers must pay higher prices for many items. Though, gold plating is done with positive intentions, it results in creating issues to the project and organization. True or False. Oil and natural gas are also growing increasingly scarce. Cloudflare Ray ID: 5f82d6c61e10e00b Hydrogen is an example of a stock natural resource. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. How would a manufacturer benefit by using fewer scarce resources? Native gold is an element and a mineral. While gold plating is done by the project team or the project manager with good intentions, it eventually backfires on them. Preview this quiz on Quizizz. Check all that apply. Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. For many …, CAPM exam is the gold mine for those who do …, Organizational structures explains your organization culture in terms of classifying …, Copyrights Text Fast Tracking And Crashing – Schedule Compression Techniques, Effective Communication Is The Key to the Project Success, What is CAPM Exam? Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. Another way to prevent getting this page in the future is to use Privacy Pass. Abiotic resources are non-living, like minerals and metals. You may need to download version 2.0 now from the Chrome Web Store. Why consumers are willing to pay high prices for items. Water is one of the most important resources known to humans. Which object is likely to have the most value based on the concept of scarcity? Gold; Iron Ore; Lead; Marble; Limestone; Nickel; Platinum; Pumice; Salt; Sand; Silver; Sulfur; Talc; Vanadium; Zinc; Natural Energy Resources. Which is an example of a nonrenewable resource? Top 5 Causes …, Work Performance Data Vs Information Vs Reports – The Key …, 7 Important Project Management Terms Every PMP Aspirant Must Know, PMP Exam Day – Ultimate Guide to Dos and Don’ts …. Since she has studied economics, Cecilia decides to buy a diamond necklace since she knows that. This brings up the question: “what is gold plating in project management?”. Causes Of Gold Plating in Project Management. It is highly prized by people because of its attractive color, resistance to tarnish, and its many special properties - some of which are unique to gold. Which is an example of an energy resource? Lack of clarity in the scope – Team members assume some un scoped requirements as implicit and add the same in the product. Or the project manager has other intentions to join the customer organization. The people of Baselandia have to make a decision. As an example, we’ll look at Avnel Gold and its Kalana Gold Project. To an extent, however, resource scarcity is contextually subjective. What Is a Project Scope in Project Management? While gold plating may do some good in the short term, but in longer run it damages the project. answer choices . All Rights Reserved, Natural Resources: Examples From Around the World, Biofuels - Fuels made from plants and animals, Geothermal energy - Energy generated from and stored in the earth, Hydroelectric power - Water drives the turbines that produce electricity either in dams or tides, Nuclear energy - Created by splitting the atom, Solar energy - The sun's rays heat solar cells that make electricity, Wind power - The wind turn the turbines that make electricity. c. petroleum. Based on economics, what would be most influential in making the decision? - Definition & Types, Renewable Energy Lesson for Kids: Sources & Types, What Is Environmental Studies? *The product would be less expensive to produce. Tags: Question 9 . Generally speaking, clean air that has a natural composition is … Note: Coal and oil are non-renewable resources. Resources are things people use to make goods and provide✔ services. When customer looked at the extra feature of adding the video of the product, he also observed that the web page performance is impacted, which is violating one of the quality requirements of the product. gold. salt. - Definition, Advantages & Disadvantages, Natural Resources Lesson for Kids: Definition & Examples, What is Solar Energy? What to Extract from a Technical Report As I said before, there is a lot of technical jargon to understand in mining. Air. Increased the project risk – Since you are adding more (extra) functionality, you may get more defects, compare to original scope. Typically, gold plating happens in the project for the following reasons. More importantly, though you did the gold plating with good intention. Sciences, Culinary Arts and Personal Our primary intention of starting this blog is to write qualitative tutorials that are essential and useful in every IT professional’s career. Increase in the project cost – Usually, top skilled resources do gold plating. One of the primary reasons for gold plating is, one or more project team members or the project manager himself wanted to display their abilities in the work to the customer or senior management.
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