Opportunity Cost

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kshitij_y
PMP
Posts: 229
Joined: Wed Dec 11, 2013 9:39 am

Opportunity Cost

Postby kshitij_y Sun Dec 15, 2013 6:31 am

*Opportunity Cost : What is use of this term (As it is talked about project which was not selected) , Why this term is required in practical life for PM?
coolnenapirali
Beginner
Beginner
Posts: 39
Joined: Wed Dec 11, 2013 6:41 am

Re: Opportunity Cost

Postby coolnenapirali Sun Dec 15, 2013 10:16 am

It is just forgoing the benefits of selecting one project over the other.

When we have 2 items say samsung grand mobile and Nokia Lumia in hand then if we select the Nokia Lumia mobile then we are forgoing the benefit of choosing Samsung Grand mobile.
Samsung mobile is andriod based mobile and we can easily download lots of apps. But for Nokia Lumia we are limited number of download option.
kshitij_y
PMP
Posts: 229
Joined: Wed Dec 11, 2013 9:39 am

Re: Opportunity Cost

Postby kshitij_y Sun Dec 15, 2013 5:05 pm

Thanks Pirali

Regards
Kshitij Yelkar

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