The drawbacks of which forecasting technique include the time and costs involved as well as the potential difficulty in integrating diverse opinions?
A) A formal expert forecast
B) The Delphi technique
C) The nominal group technique
D) An informal expert forecast
E) Managerial judgment

Question

Quizplus · Accepted Answer

The drawbacks mentioned in the question are specifically associated with the Delphi technique. A formal expert forecast and an informal expert forecast do not necessarily involve the same time and cost commitment as the Delphi technique. The nominal group technique, while it may require integrating diverse opinions, does not necessarily have the same potential difficulty in doing so as the Delphi technique. Managerial judgment may or may not involve significant time and cost commitments, and may or may not have difficulty integrating diverse opinions.

The Drawbacks of Which Forecasting Technique Include the Time and Costs