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The Constructive Systems Engineering Cost Model (COSYSMO) was created by Ricardo Valerdi while at the University of Southern California Center for Software Engineering. It gives an estimate of the number of person-months it will take to staff systems engineering resources on hardware and software projects.
A cost estimate is often used to establish a budget as the cost constraint for a project or operation. In project management, project cost management is a major functional division. Cost estimating is one of three activities performed in project cost management. [3] In cost engineering, cost estimation is a basic activity. A cost engineering ...
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.
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]
Basis of estimate (BOE) is a tool used in the field of project management by which members of the project team, usually estimators, project managers, or cost analysts, calculate the total cost of the project.
[12] [13] The top level categories are the following: Expert estimation: The quantification step, i.e., the step where the estimate is produced based on judgmental processes. [14] Formal estimation model: The quantification step is based on mechanical processes, e.g., the use of a formula derived from historical data.
The constructive cost model was developed by Barry W. Boehm in the late 1970s [1] and published in Boehm's 1981 book Software Engineering Economics [2] as a model for estimating effort, cost, and schedule for software projects.
The most basic element of a cost estimate and therefore the cost database is the estimate line item or work item. [3] An example is "Concrete, 4000 psi (30 MPa)," which is the description of the item. In the cost database, an item is a row or record in a table (of items) and the description is a column or field for that record.
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