Assessing Accuracy of Formal Estimation Models and Development of an Effort Estimation Model for Industry Use
Paula S. Esplanada, Eliezer A. Albacea · 2012
The need for accurate estimates in software development continues to grow as more and more companies are experiencing cost overruns due to poor estimates. This study evaluates four of the most popular algorithmic models used to estimate software effort (Basic COCOMO, Intermediate COCOMO, Walston-Felix, and Bailey-Basili) using project data from a particular software company. The results show that these models cannot be used for the organization and should instead only be used as a rough estimate; thus, an estimation model is also developed for the company. Tests showed that the model developed is capable of estimating effort with a certain degree of accuracy although the model may be further refined by accounting and quantifying other factors that affect productivity. More focus should be done in creating a model and accounting cost factors for web application project types. Other size metrics apart from LOC should also be considered.