Which of the following principles describes this statement?" xxx defines tolerances for each project objective to establish limits of delegated authority"
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The principle that best describes the statement "xxx defines tolerances for each project objective to establish limits of delegated authority" is "Manage by exception."
Manage by exception is a project management principle that involves setting predefined boundaries or thresholds for each project objective. These boundaries, known as tolerances, establish limits of delegated authority for project managers and their teams. Tolerances help to ensure that the project stays on track by providing a way to identify when a deviation has occurred from the planned course of action.
By setting tolerances for each project objective, the project manager can delegate authority to team members while still retaining overall control of the project. This enables the project manager to focus on managing exceptions, or situations where a deviation from the plan has occurred and corrective action is required.
For example, if the project objective is to complete a task within a certain timeframe, the project manager may set a tolerance range of plus or minus 10% of the expected duration. If the task is completed within this tolerance range, no intervention is required. However, if the task takes longer than 10% of the expected duration, the project manager is notified and corrective action is taken.
In summary, the principle of Manage by exception involves setting tolerances for each project objective to establish limits of delegated authority and enable the project manager to focus on managing exceptions.