Which of the following is one of the four common benchmark methods?

Historical precedent is considered one of the four common benchmark methods because it involves examining past data, performances, or practices to set standards or goals for future performance. This method relies on the outcomes of previous projects or initiatives to inform similar decisions, allowing organizations to draw insights from what has been successful or not in the past. By analyzing historical trends, one can establish realistic and achievable benchmarks that are grounded in real-world experience.

Other methods, such as brainstorming, focus groups, or statistical analysis, may contribute valuable insights in various contexts, but they do not specifically serve as benchmark methodologies in the same way historical precedent does. These alternatives focus on generating ideas, gathering opinions, or analyzing numerical data rather than using past achievements as a standard for measuring future success.