What is Software project estimation?

Software cost and effort estimation will never be an exact science. Too many variables human, technical, environment, political can effect the ultimate cost of software and effort applied to develop it. Software project estimation can be transformed from a black art to a series of systematic steps that provide estimates with acceptable risk. To achieve reliable cost and effort estimates a number of options arise: 

• Delay estimation until late in the project

For a project longer you wait, more you know and more you know about the serious errors in your estimation.

• Base estimates on similar projects that have already been completed.

If you have done a same project like before, past experience has not always good indicator of future results.

• Use relative simple decomposition techniques to generate project cost and effort estimates.

This is the viable approach for the software project estimation. Decomposition techniques works as divide and conquer for the software project estimation.

• Use one or more empirical models for software cost and effort estimation.

Empirical formula can be used to complement the decomposition technique.