First Idea Online!! a Novel method of Employee Evaluation

Hi all,
Here goes.. and I got this during the CS599 lecture today. I was thinking of what may actually be taking place at google... if you have seen this earlier, please post a link to it as comment.

Suppose that a manager has some (say 10) employees who are all capable of doing similar stuff (e.g. software engineers writing code). (S)he calls all of them and gives them a problem. Then each person in the team is asked to "bid" on the amount of time they will take to complete that job (definition of "completeness" pre-ascertained). The 5 (or some other number) people who claim to be the fastest are assigned that job. When they do it, they are awarded points which can be positive or negative depending on how timely and good their work was.

The method is very similar to a card game called "french bridge" I played as a kid where you were given a set of cards each and had to bid how many hands you will make. Accurate bidders are given +ve points and over- or under-bidders are penalized.

I believe this can be used for employee evaluation someplace, if not used already.

Any takers?
Please comment on this.. I am waiting for feedback.

Animesh