Question
Which of the following statement(s) is/are true?(Select the correct answer from the options below the statements) (1) It is important to focus only on quantitative matters when conducting a project appraisal (2) It is important to use only one project appraisal technique in order to avoid any confusion (3) It is important to consider both quantitative and qualitative matters when conducting project appraisal
Answer
4.1
(241 Votes)
Nancy
Veteran · Tutor for 10 years
Answer
Only (3) is a true statement
Explanation
## Step 1: Analyzing the statements The first statement "It is important to focus only on quantitative matters when conducting a project appraisal". This can be considered incorrect from a project management perspective, as focusing only on quantitative facets (like financials or metrics), omits qualitative facets like stakeholder satisfaction, potential risks, quality of workers, and external circumstances.The second statement "It is important to use only one project appraisal technique in order to avoid any confusion" is also incorrect. To create a robust evaluation, different appraisal methods should be utilized to account for different perspectives and provide a comprehensive view of the project's viability.The third statement "It is important to consider both quantitative and qualitative matters when conducting project appraisal" is correct. Balanced evaluations include both quantitative and qualitative aspects for a comprehensive assessment. Quantitative information often cannot grasp factors such as reputation risks, relational dynamics, or unanticipated barriers, which might dramatically affect the project's success or failures.