Final answer:
A component is a functional, tested, and accepted part of a project that is part of the larger project outcome.
Step-by-step explanation:
The functional, tested, and accepted component of a project that is part of the larger project outcome is called a component.
A component is a distinct part or element of a larger system. It is usually created or modified by humans for a practical purpose and is tested and evaluated to ensure it meets all constraints and performs acceptably relative to the criteria.