A common term to describe an approach to settling contractual disagreements:
Alternative dispute resolution (ADR)
The other terms shown are irrelevant / fictional.
The price / cost ...
The price / cost iceberg.
The notion that when you buy something for a price, only part of the total cost has been exposed. a potentially very significant chunk of cost remains unseen, 'below the waterline'.
A margin within which a specification can vary slightly -- the outer limits of what is acceptable to the buyer -- can be described as:
The correct answer is 'tolerances'. The tighter the tolerance ie the more restrictive the specification, the more challenging for a supplier to deliver, and the more costly it is likely to become.
OTIF stands for:
On time and in full.
OTIF is a reference to an order placed with a supplier having been delivered in the right quantity and on time. Note that this acronym makes no reference to quality.
'The usefulness of lifetime costing is for decision-making about whether to acquire an asset with an expected:
The correct answer is 'long life'.
Lifetime doesn't really make sense in respect of the other answers offered.
