The manager at the Center of Research encourages interdepartmental coordination among the staff,and the pooling of expert knowledge from different business functions.The manager is concerned because the costing method implemented at the company is based on opinions rather than systematic estimation.This creates issues because the accuracy of the cost estimates is based on the skill of the employees that provide inputs.What cost estimation is implemented at the Center of Research?
A)Industrial Engineering Method.
B)Conference Method.
C)Account Analysis Method.
D)Quantitative Analysis Method.
E)Work Measurement Method.

Question

Quizplus · Accepted Answer

The Conference Method is described by the pooling of expert knowledge from different business functions and relying on the opinions of staff members for cost estimation, which matches the scenario provided. This method involves discussions among experts or departments to estimate costs, which can vary based on the skill and experience of the participants.

The Manager at the Center of Research Encourages Interdepartmental Coordination