The Two General Approaches to Forecasting Are

question 4

Multiple Choice

The two general approaches to forecasting are:

• A)mathematical and statistical.
• B)qualitative and quantitative.
• C)judgmental and qualitative.
• D)historical and associative.
• E)precise and approximation.

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Definitions:

Initiation Phase

The initial step in a project management process that involves defining a new project or a new phase of an existing project, securing necessary approvals to proceed.

Detailed Schedule

An in-depth timetable that outlines the timing and sequence of project activities, milestones, and deadlines.

Project Sponsor

An individual or group that provides financial resources, support, and oversight for a project.

Organizational Authority

The level of power or control assigned to roles or positions within an organization, dictating decision-making capacities.