This Estimation Technique May Be Driven by an Upper Management

question 77

Multiple Choice

This estimation technique may be driven by an upper management mandate.

• A) Guesstimating
• B) Delphi Technique
• C) Time Boxing
• D) Top-Down Estimating
• E) Bottom-Up Estimating

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Definitions:

Empowerment

Involves giving employees the authority, resources, and responsibility to manage their own tasks and make decisions, aiming to increase their influence and performance within the organization.

Product Market

The marketplace where final goods or services are traded between sellers and consumers or businesses.

Pay Grades

Sets of jobs having similar worth or content, grouped together to establish rates of pay.

Market Rates

The prevailing price or salary range for goods, services, or labor in a specific industry or geographic area.