Describe different product size cost estimation methods
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Software Sizing:
Software Sizing is used to determine the size of a software application or component. This is important to implement other software project management activities. Size is a basic characteristic of a software.
Software Sizing Methods:
The most common method is counting the lines of code written in an application source.
The IFPUG method called Function point analysis is another method used widely but it is not accurate when it comes to estimating complex algorithm.
Other uses of Functional point are to monitor project progress and evaluate the requirements coverage of commercial off-the-shelf (COTS) packages.
The Use Case-based software sizing rely on counting the number and characteristics of use cases that are found in a piece of software.
COSMIC software sizing directs sizing software that has finite amount of stored data such as 'real time' systems and 'process control'.
Cost estimation methods:
Algorithmic cost modelling: This method compares some software metric like size to the project cost being used.
Expert judgement : Several experts on the proposed software development techniques and the application domain are consulted. Each expert will estimate a cost for the project. These estimates are compared and discussed. The discussion continues until an agreed estimate is reached.
Estimation by analogy : Only when other projects in the same application domain have been completed, this method can be implied.The cost of a new project is estimated by analogy with these completed projects.
Parkinson’s Law : . The cost is determined by available resources. If the software has to be delivered in 10 months and 6 people are available, the effort required is estimated to be 60 person-months.
Pricing to win: It is based on the financial availability of the customer. The estimated effort depends on the customer’s budget and not on the software functionality
Software Sizing is used to determine the size of a software application or component. This is important to implement other software project management activities. Size is a basic characteristic of a software.
Software Sizing Methods:
The most common method is counting the lines of code written in an application source.
The IFPUG method called Function point analysis is another method used widely but it is not accurate when it comes to estimating complex algorithm.
Other uses of Functional point are to monitor project progress and evaluate the requirements coverage of commercial off-the-shelf (COTS) packages.
The Use Case-based software sizing rely on counting the number and characteristics of use cases that are found in a piece of software.
COSMIC software sizing directs sizing software that has finite amount of stored data such as 'real time' systems and 'process control'.
Cost estimation methods:
Algorithmic cost modelling: This method compares some software metric like size to the project cost being used.
Expert judgement : Several experts on the proposed software development techniques and the application domain are consulted. Each expert will estimate a cost for the project. These estimates are compared and discussed. The discussion continues until an agreed estimate is reached.
Estimation by analogy : Only when other projects in the same application domain have been completed, this method can be implied.The cost of a new project is estimated by analogy with these completed projects.
Parkinson’s Law : . The cost is determined by available resources. If the software has to be delivered in 10 months and 6 people are available, the effort required is estimated to be 60 person-months.
Pricing to win: It is based on the financial availability of the customer. The estimated effort depends on the customer’s budget and not on the software functionality
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