A STUDY ON INTEGRATED MONITORING SOFTWARE FOR COST ESTIMATION FOR SUSTAINABILITY
Sashank Sridhar · IJITR International Journal of Innovative Technology and Research - IJITR International Journal of Innovative Technology and Research · 2015
Software project management is the use of knowledge, proficiency, tools and techniques to project activities and gather project requirements.The success of Software Project Management (SPM) involves thorough planning, scheduling and budgeting.Project planning consists of actions performed to ascertain the total scope of the effort, describe and refine the target and develop the course of actions needed to achieve the targets.Cost estimation and budgeting are prime components of project planning process.As software applications are functions of size and connotation, the need for accuracy in software cost estimating has also increased.Accurate cost estimation is critical for both developers and customers and crucial for the success of the project, in most economic way.A sound awareness on the various estimation methods, resources used in estimating, past database sources and formats of estimating form all the basis for the sophisticated methods of estimating.Cost estimation plays a critical role in predicting the effort for calculating the feasibility of the project based on the input costs.It is essential that the technique used to estimate the cost should produce accurate results, which is pivotal for decision making.This paper presents a review on several methods of cost estimation.