WillC said: From your description, your fear of overwatering is causing you to underwater. Your Dracaena Compacta is in a small pot so it will dry out sooner than you might expect. The small pot also makes overwatering unlikely as long as the pot is not allowed to sit in water.
Let the top surface of the soil get barely dry to your touch, then water it thoroughly pouring water over the entire surface until all of the soil is completely saturated.
Overwatering means watering too often so the soil stays wet for too long. It does not mean giving it too much water at one time.
Trim off the discolored leaf edges to make it look nicer. With better watering, new growth should remain healthy.
Misting provides no benefit.
WillC said:I use long, sharp scissors to trim off brown tips so that the original contour of the leaf is maintained, avoiding "blunt" cuts. When a healthy leaf is trimmed, a thin brown healing margin in unavoidable. If the brown spreads beyond that it is because the underlying cause of the brown tipping still exists. In your case, it is underwatering.
If you improve your watering, I think you will see a gradual decline in the amount of leaf-tipping, although there will always be some. Trimming is not the cause of leaf browning.
WillC said:What makes you think there is root rot?
Why is the potting soil so clumpy on the surface?
WillC said:If the short remaining stem is soft, then the roots are probably no longer functioning and your Compacta is no longer viable. The roots could have died from over or under watering or damage during potting. Sorry we were unable to help you save it.
Can you post an updated photo that shows all that remains?