Software Development Effort Estimation — Demystifying and Improving Expert Estimation

Abstract

The main determinant of many types of software-related investments is the amount of development effort required. The ability of software clients to make investment decisions based on cost estimates is consequently strongly tied to the software providers ability to estimate the effort accurately. Similarly, the ability of project managers to plan a project and ensure efficient development frequently depends on accurate effort estimates. The importance of accurate effort estimates is illustrated by the findings of a 2007 survey of more than 1,000 IT professionals. The survey reports that two out of the three-most-important causes of IT project failure were related to poor resource estimation, that is, inaccurate effort estimates.