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Concept Testing Is a Mean for Evaluating Ideas, by Providing

question 27

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Concept testing is a mean for evaluating ideas, by providing a feel for merits prior to commitment for research and development.


Definitions:

Estimate To Complete

A financial analysis projecting the cost required to finish a project based on its current status and past performance.

Parametric Estimates

Estimation technique using statistical relationships between historical data and variables to calculate cost, duration, and resource requirements.

Parameters

A set of boundaries or limits that define the scope and operating conditions of a system, project, or experiment.

Earned Value Management

A project management technique that integrates scope, time, and cost data to assess project performance and progress.

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