Which Practices in the Estimating Practice Area focus on estimating the size, effort, and cost for work related to product development?

The Estimating Practice Area specifically emphasizes the importance of accurately estimating size, effort, and cost for work related to product development. This area encompasses practices that provide guidelines and techniques for quantifying the resources required to complete projects effectively. By focusing on estimating, organizations can better understand the scope of work, allocate resources appropriately, and set realistic budgets and timelines.

The practices within this area are crucial for establishing a solid foundation for project planning, as accurate estimates help ensure that expectations align with capabilities and help mitigate risks associated with budget overruns and schedule delays. Overall, focusing on estimation helps improve decision-making and project outcomes by providing clear visibility into the required efforts and resources.