Cost Estimation Flashcards
Predicting the resources required for a software development process
Cost Estimation
What is the goal of cost estimation
Minimize cost and maximize profit
Purpose of cost estimation
Used by system analysts to approximate the essential resources for a software project and their schedules
Factors affecting cost estimation
> TIME to finish
EFFORT to finish
SIZE of the project
Importance of cost estimation
> to void underestimation
- underdeveloped/incomplete proj
- systems beyond budget
> to avoid overestimation
- commit to too many resources
- loss of job
- not winning a contract
Person responsible for ost estimation which can be a member of the development team or the team head himself
Cost estimator / estimator
How do you estimate
> measured in effort
>use cost estimation modeks
Cost estimation model which uses mathematical equations to compute for cost estimate
Algorithmic (parametric) model
What is the basic cost model formula
Effort = A x SizeB x m(X)`
Cost estimation wherein experts provide an estimage projet cost and iterates until an agreed estimate s reached
Exoert judgement
A cost estimation model wherein a new project is estimated through the cost of a previously completed project of the same application domain
Estimation by previous rojects ( analogy)
A clsst estimation model wherein the work epands to fill the available completioon time
Application of parkinson’s law
A cost estimation model where the software cost is estimated by the price what the customer has available to spend on the project
Pricing to win
A cost estimation model in an algorithmic approach introduced by barry boehm
COCOMO / Constructive Cost Model
Two variations of COCOMO
COCOMO II and COCOMO 81
