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According to Hofstede's Cultural Dimensions, Individualism is when a person prioritises themselves over a group. Is this correct?
Hofstede's dimension contrasts individualism with collectivism. In individualistic cultures, the individual is prioritised over the group.
Paradigm Digital Services has strict office rules on branding, workspaces, and dress code.
Q: Which aspect of the Cultural Web does this describe?
Answer Options:
Symbols (p.169) include logos, dress codes, and office layout.
Control Systems (C) refer to rules and procedures.
Rituals (D) are traditions and routines.
Power Structure (E) involves decision-making hierarchy. [P.169]
Fred is comparing two possible projects that will last for different durations.
His company can only select one project due to financial constraints.
He needs a method to compare the financial benefits of both projects.
Q: Is a payback analysis a useful tool for Fred to use?
Answer Options:
A Payback Analysis (p.72) calculates how long it takes for a project to recover its initial investment. It accounts for project duration but does not provide a rate of return (Option C). Discount factors (Option D) are used in Net Present Value (NPV) analysis, not Payback Analysis. [P.72]
Which of the following pieces of information is required to create a Bill of Quantities? Select all that apply
A Bill of Quantities is based on the volume/dimensions and price of the materials. Quality and manufacturer details are typically specified elsewhere.
At what stage in a program's lifecycle is an Investment Appraisal conducted?
Answer Options:
Investment Appraisal is performed before a program is approved (p.69). It evaluates whether the project is financially viable and likely to provide a return on investment. Option B relates to procurement, and Options C and D are post-implementation assessments. [P.69]