Asked by Samuel Flores on Jun 19, 2024
Verified
Explain how learning curves might be applied in a bid preparation application.
Learning Curves
A graphical representation of how an increase in learning or experience leads to improved performance or efficiency over time.
Bid Preparation
The process involved in compiling and submitting the documentation and estimates required to compete for a contract or project.
- Apply learning curves in bid preparation, scheduling, and cost accounting.
Verified Answer
SU
Shafira UlinnuhaJun 21, 2024
Final Answer :
Learning curves can determine the reduction in labour and/or materials required to produce a specified number of units. Knowing these cost components, managers are better prepared to determine what to bid and when to promise finished goods.
Learning Objectives
- Apply learning curves in bid preparation, scheduling, and cost accounting.