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In project management (e.g., for engineering), accurate estimates are the basis of sound project planning. Many processes have been developed to aid engineers in making accurate estimates, such as Analogy based estimation; Compartmentalization (i.e., breakdown of tasks) Cost estimate; Delphi method; Documenting estimation results; Educated ...
The estimation approaches based on functionality-based size measures, e.g., function points, is also based on research conducted in the 1970s and 1980s, but are re-calibrated with modified size measures and different counting approaches, such as the use case points [11] or object points and COSMIC Function Points in the 1990s.
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.
In this process, a project manager selects a moderator and an estimation team with three to seven members. The Delphi process consists of two meetings run by the moderator. The first meeting is the kickoff meeting, during which the estimation team creates a work breakdown structure (WBS) and discusses assumptions.
To produce a project estimate the project manager: Decomposes the project into a list of estimable tasks, i.e. a work breakdown structure; Estimates the expected value E(task) and the standard deviation SD(task) of this estimate for each task time
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.
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