Scope determines the time and cost of a business project.
The term is commonly used in project management.
The scope of the project covers all the work required for the project, while the scope of the product focuses only on the final result.
Scope creep is when uncontrolled changes lengthen project timelines and require effective project management.
Proper scoping of a project allows managers to estimate the costs and time needed to complete a project.
Evaluation costs are the fees a company pays for discovering defects in its products before they are delivered to customers; they are a form of quality control.
The articles of association can be seen as a user manual for the company, defining its purpose and outlining the methodology for carrying out the necessary day-to-day tasks.
When a company or government agency buys or leases existing manufacturing facilities to launch new manufacturing activities, this is called an investment in existing facilities.
The Code of Ethics sets out the ethical principles of the organization and the best practices to be followed with respect to honesty, integrity and professionalism.