The document discusses different approaches to estimation in waterfall and Scrum methodologies. In Scrum, teams estimate their own work in story points, which are relative units based on size and complexity. Story points help drive cross-functional behavior and do not decay over time. Ideal days estimates involve determining how long a task would take with ideal conditions and no interruptions. Planning poker uses story point cards to facilitate discussion and reach consensus on estimates. Release planning in Scrum involves estimating velocity over sprints to determine how many product backlog items can be completed.