‘The optimum combination of whole life costs and quality’ is one definition of:
A . Quality circles
B . Life cycle costing
C . Contractual agreement (in English law)
D . Value for money
Answer: D
Explanation:
An earlier widely-used definition of value for money as the right combination of price and quality has been updated to include the notion of whole-life costing. The other answers shown are simply ‘red herrings’.
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