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Cost estimation in software engineering is typically concerned with the financial spend on the effort to develop and test the software, this can also include requirements review, maintenance, training, managing and buying extra equipment, servers and software. Many methods have been developed for estimating software costs for a given project.
Software researchers and practitioners have been addressing the problems of effort estimation for software development projects since at least the 1960s; see, e.g., work by Farr [8] [9] and Nelson. [10] Most of the research has focused on the construction of formal software effort estimation models.
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost ...
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of ...
B is a scaling factor and is a function of the project size. [3] Productivity is the Process Productivity, the ability of a particular software organization to produce software of a given size at a particular defect rate. Effort is the total effort applied to the project in person-years. Time is the total schedule of the project in years.
COCOMO consists of a hierarchy of three increasingly detailed and accurate forms. The first level, Basic COCOMO is good for quick, early, rough order of magnitude estimates of software costs, but its accuracy is limited due to its lack of factors to account for difference in project attributes (Cost Drivers).
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