close
test_template

The Software Cost Estimation

About this sample

About this sample

close

Words: 596 |

Page: 1|

3 min read

Published: Jan 15, 2019

Words: 596|Page: 1|3 min read

Published: Jan 15, 2019

Software estimation is measuring the future effort required for the project implementation. Software estimation is one amongst the challenging tasks of the project manager. Estimations include the software size estimation, effort estimation in man months, and cost estimation of the project. There are many estimation techniques that are available such as, source lines of code, function points, use case points, object points, and feature points. There are also cost estimation techniques such as constructive cost model (COCOMO), which is a model based approach.

'Why Violent Video Games Shouldn't Be Banned'?

In current days, the resources such as time, money and programmers to software project are limited. The project manager has the pressure to execute the project within the given time and the given budget. Hence, funds are limited; the project manager has to execute the project with proper plans in place. Hence, he needs to know how much time and money are to be spent on each activity and how many resources are to be assigned to every activity, based on the required efforts.

Any project involves cost, the approximate estimation and judgement of the cost for a particular project is called cost estimation. The cost for a particular project involves many variables and can never be constant hence, cannot be exactly calculated for a project. Anything that involves human efforts is not approximate as humans are not so predictable. Any type of project’s software development involves several functions whose complexity is difficult to judge due to the complicated software systems.

Effort is the metric for the software cost estimation for the development of the software. The effort is the total time a person needs to work over a period of time. It is important that the specific characteristics of the processes and programming tools are taken into consideration during the comparison of the effort of any projects because no two processes and programming tools are the same. Different elements and variables are used for cost estimation like, the factors from manufacturing, development, etc.

Any project requires planning and budgeting, which is influenced by cost estimation. The cost estimation at the beginning of any project helps in determining which features a project can possess. The important features are included in the product by prioritising the requirements. When the most important features are added at the beginning, the risk is reduced because as the complexity of the project increases, the chances of mistakes also increases. Hence, cost estimation can have a big impact on the life cycle and schedule for a project.

The risk of a project is reduced when the most important features are included at the beginning because the complexity of a project increases with its size, which means there is more opportunity for mistakes as development progresses. Thus, cost estimation can have a big impact on the life cycle and schedule for a project.

Resource allocation depends on cost estimation. A company has to assign better resources to expensive projects. Manpower loading is the metric for management and engineering personnel assigned to a project for a given period of time. It is bad if the less costly project fails, but it is worse if the costly project fails. With estimation, some resources can be traded off with others while keeping the project cost unchanged. Cost estimation of the project should be done throughout its life cycle. The first cost estimation should be done at the beginning of the project.

Get a custom paper now from our expert writers.

Majority of the projects fail or become challenged because of improper estimations. Hence, software estimation is important in project management. If you cannot estimate, you cannot measure and track as well. Hence, software estimation has a lot of importance.

Image of Alex Wood
This essay was reviewed by
Alex Wood

Cite this Essay

The Software Cost Estimation. (2019, January 15). GradesFixer. Retrieved March 29, 2024, from https://gradesfixer.com/free-essay-examples/the-software-cost-estimation/
“The Software Cost Estimation.” GradesFixer, 15 Jan. 2019, gradesfixer.com/free-essay-examples/the-software-cost-estimation/
The Software Cost Estimation. [online]. Available at: <https://gradesfixer.com/free-essay-examples/the-software-cost-estimation/> [Accessed 29 Mar. 2024].
The Software Cost Estimation [Internet]. GradesFixer. 2019 Jan 15 [cited 2024 Mar 29]. Available from: https://gradesfixer.com/free-essay-examples/the-software-cost-estimation/
copy
Keep in mind: This sample was shared by another student.
  • 450+ experts on 30 subjects ready to help
  • Custom essay delivered in as few as 3 hours
Write my essay

Still can’t find what you need?

Browse our vast selection of original essay samples, each expertly formatted and styled

close

Where do you want us to send this sample?

    By clicking “Continue”, you agree to our terms of service and privacy policy.

    close

    Be careful. This essay is not unique

    This essay was donated by a student and is likely to have been used and submitted before

    Download this Sample

    Free samples may contain mistakes and not unique parts

    close

    Sorry, we could not paraphrase this essay. Our professional writers can rewrite it and get you a unique paper.

    close

    Thanks!

    Please check your inbox.

    We can write you a custom essay that will follow your exact instructions and meet the deadlines. Let's fix your grades together!

    clock-banner-side

    Get Your
    Personalized Essay in 3 Hours or Less!

    exit-popup-close
    We can help you get a better grade and deliver your task on time!
    • Instructions Followed To The Letter
    • Deadlines Met At Every Stage
    • Unique And Plagiarism Free
    Order your paper now