What term describes the process of producing estimates of a revenue source's future yield based on a collective agreement of individuals?

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The term that describes the process of producing estimates of a revenue source's future yield based on a collective agreement of individuals is known as Consensus Forecasting. This approach involves gathering input from a group of experts or stakeholders related to the revenue source in question. Their collaborative insights and agreements help to create a more accurate and reliable estimate, as differing viewpoints can balance out individual biases and uncertainties.

In the context of budgeting, Consensus Forecasting allows for a more democratic and comprehensive understanding of potential revenue streams, making it particularly useful for public finance officers when projecting future revenues. Such collective inputs aim to forecast with greater accuracy than might be achieved individually.

While the other options focus on different methods of forecasting—such as seeking expert opinions in a structured manner (Delphi Forecasting) or relying heavily on individual expertise (Expert Forecasting) and intuition or judgement (Judgmental Forecasting)—it is the collaborative nature of Consensus Forecasting that distinctly enables a collective approach, making it the most applicable answer for this question.

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