Identify and Briefly Describe the Two Major Classifications of Estimating

question 16

Essay

Identify and briefly describe the two major classifications of estimating project time and costs.

---

Definitions:

Implied Powers

Powers not explicitly stated in a constitution or legal document but deemed necessary to execute the powers that are expressly stated.

De Facto Corporation

Latin for “corporation in fact” a corporation that has not substantially met the requirements of the state incorporation statutes.

Incorporation Statute

Laws enacted by a state that outline the requirements for forming and operating a corporation within that state.

Dividends

Corporate profit shares distributed among stockholders, often on a periodic basis.