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Story points are a relative measure of effort/complexity/risk compared to reference stories, not a direct time metric. Teams calibrate points using techniques like Planning Poker or bucket system, creating internal consistency that enables empirical forecasting via velocity (points completed per iteration). Option A misstates points as hours; conflating them with time undermines their benefit and invites false precision. Option C is incorrect—velocity uses points as-is; translating to hours reintroduces estimation bias. Option D misassigns the role: Developers estimate because they do the work, while the Product Owner prioritizes based on value, risk, and dependencies. CAPM’s agile coverage emphasizes empiricism: use historical velocity to forecast ranges, communicate uncertainty, and avoid fixed commitments too early. Points support conversations about scope and trade-offs, not contractual guarantees. Good practice includes maintaining a stable Definition of Done, refining large items into smaller, similarly sized stories, and revisiting estimates when significant learning occurs, thereby increasing predictability without over-engineering the estimation process.