List and Describe the Resource Estimation Techniques Presented in the PMBOK

question 39

Essay

List and describe the resource estimation techniques presented in the PMBOK. Also, describe how benchmarking, mind mapping, and brainstorming are used in activity resource estimation. Give examples for each technique.

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Definitions:

Crowding out

A situation where increased public sector spending reduces or eliminates private sector spending or borrowing due to higher interest rates.

Government Spending

The total amount of public sector expenditure on goods and services, including investments and transfers, which influences economic activity.

Interest Rates

The cost of borrowing money or the reward for saving, expressed as a percentage of the money borrowed or saved. It influences consumer spending, inflation, and overall economic activity.

Government Purchases

Expenditures by the government on goods and services that are included in the calculation of the country's GDP.