6. What are the principles of agile methods? 27. What are the Components of a Strong Value Proposition?

Legal Factors

Legal factors are those that emerge from changes to the regulatory environment, which may affect the broader economy, certain industries, or even individual businesses within a specific sector. They include, but are not limited to:

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  Industry regulation
  
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  Licenses and permits required to operate
  
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  Employment and consumer protection laws
  
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  Protection of IP (Intellectual Property)
  

49.List the Methods for Selecting Projects

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  Develop a list of project selection criteria
  

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  Securing finance
  

Most business plans are prepared in order to secure some form of funding.

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  Operational management and budgeting
  

The business plan can also provide the basis for the creation of business processes, job descriptions and operational budgets.

Net Present ValueNet Present Value is the difference between the project’s current value of cash inflow and the current value of cash outflow. The NPV must always be positive. When picking a project, one with a higher NPV is preferred. The advantage of considering the NPV over the Payback Period is that it takes into consideration the future value of money.

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  Opportunity Cost
  

Opportunity Cost is the cost that is given up when selecting another project. During project selection, the project that has the lower opportunity cost is chosen.
Return on investment (ROI) is the key measure of the profit derived from any investment. It is a ratio that compares the gain or loss from an investment relative to its cost. It is useful in evaluating the current or potential return on an investment, whether you are evaluating your stock portfolio's performance, considering a business investment, or deciding whether to undertake a new project.

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  Return on investment (ROI) is an approximate measure of an investment's profitability.
  
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  ROI is calculated by subtracting the initial cost of the investment from its final value, then dividing this new number by the cost of the investment, and finally, multiplying it by 100.
  
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  ROI has a wide range of uses. It can be used to measure the profitability of stock shares, to decide whether to purchase a business, or to evaluate the success of a real estate transaction.
  
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  One disadvantage of ROI is that it doesn't account for how long an investment is held.
  

The internal rate of return (IRR) rule states that a project or investment should be pursued if its IRR is greater than the minimum required rate of return, also known as the hurdle rate. The IRR Rule helps companies decide whether or not to proceed with a project.
50.What is the Waterfall Model?
Waterfall project management methodology was first introduced in 1970's an article written by Winston W. Royce.