Effective Project Cost Estimation Techniques and Models
Explore project cost estimation techniques like Decomposition and Empirical Estimation, featuring models such as Putnam Model and COCOMO. Understand how these methods help in estimating project size, effort, time, and cost effectively for successful project management.
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Presentation Transcript
Project Cost Estimation Technique
Project Cost Estimation Techniques We discussed various parameters involving project estimation such as size, effort, time and cost. Project manager can estimate the listed factors using two broadly recognized techniques : 1)Decomposition Technique This technique assumes the software as a product of various compositions. There are two main models : I. Line of Code( LOC ) Estimation is done on behalf of number of line of codes in the software product. II. Function Points ( FPs ) Estimation is done on behalf of number of function points in the software product. Project planning may include the following: 1. Estimate some basic attributes of project. a) Cost ( Budget ) b) Time ( Duration ) c) Effort ( Manpower )
Project Cost Estimation Techniques 2) Empirical Estimation Technique This technique uses empirically derived formulae to make estimation. These formulae are based on LOC or FPs. There are two main models : I. Putnam Model This model is made by Lawrence H. Putnam, which is based on Norden s frequency distribution (Rayleigh curve). Putnam model maps time and efforts required with software size. II. COCOMO COCOMO stands for COnstructive COst MOdel, developed by Barry W. Boehm. It divides the software product into three categories of software: organic, semi-detached and embedded.
PUTNAM Estimation Model Putnam Model is : A theoretical multivariable dynamic model. Proposed by Lawrence Putnam in 1977. The Lawrence Putnam model describes the time and effort requires finishing a software project of a specified size. Based on data around 4000 projects consisting 70000 LOC. Shows relationship between effort and size is non linear. One of the distinguishing features of the Putnam model is that total effort decreases as the time to complete the project is extended.
PUTNAM Estimation Model Putnam Equation : Putnam Model Curve : Putnam makes a use of a so-called The Norden/Rayleigh Curve to estimate project effort, schedule & defect rate.
