Steps in software size, effort duration and cost estimating - Project management (PMP)

Explain the steps in software size, effort duration and cost estimating.

Steps:

a. Establish Cost-Estimation Objectives
b. Develop a plan for estimation activities. Plan for resources.
c. Clarify Software requirements
d. Explore details as much as possible
e. Use several independent technique
f. Compare, understand, iterate estimates
g. Review estimate accuracy
Distinguish among regression, mathematical and empirical estimating models - Project management (PMP)
Regression: The emphasis is on creating a formula that best represents the scattered data points.....
COCOMO estimating model- Project management (PMP)
COCOMO stands for constructive cost model. It is used for software cost estimation and uses regression formula with parameters based on historic data...
Advantages of COCOMO estimating model - Project management (PMP)
Advantages of COCOMO estimating model are: COCOMO is factual and easy to interpret. One can clearly understand how it works......
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