Companies Are Using Which of the Following for Improving the Estimating

question 60

Multiple Choice

Companies are using which of the following for improving the estimating process for future projects?

• A) Adjusting estimates based on individual forecasting abilities
• B) Benchmarking and using the experience of other companies
• C) Using time and motion studies
• D) Creating historical databases of previous projects
• E) Establishing an estimating training course for all employees

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Definitions:

Defined Benefit Post-Employment Fund

A pension plan where the benefits that an employee will receive upon retirement are defined in advance.

Remeasurements

Accounting adjustments made to reflect changes in the fair value of certain assets or liabilities.

Net Defined Benefit Liability

The difference between the total amount of pension benefits promised to employees and the actual funds set aside in the pension fund to meet those liabilities.

Termination Benefits

Payments or other benefits provided to employees as compensation for their dismissal or for voluntary separation under conditions specified by the employer.