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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.
It is important to be aware of the limitations of each traditional approach to measuring software development productivity. [22] In addition, other factors such as ease of understanding and communicating the results of an approach, ease of use of an approach, and cost of introduction of an approach should be considered in a selection process.
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 ...
Within the application boundary, non-functional requirements are associated with relevant categories and their sub-categories. Using a standardized set of basic criteria, each of the sub-categories is then sized according to its type and complexity; the size of such a requirement is the sum of the sizes of its sub-categories.
Construction cost estimating software is computer software designed for contractors to estimate construction costs for a specific project. A cost estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting construction contract.
The model then provides as output various resources requirements in cost and time. Some models concentrate only on estimating project costs (often a single monetary value). Little attention has been given to the development of models for estimating the amount of resources needed for the different elements that comprise a project. [1]
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