The International Journal of Professional Management - ISSN 20422341
An Analysis of Project Cost Estimation Techniques of KPK Software Industry
Volume 13, Issue 3, May 2018
Zohra Saleem (Corresponding Author)
Affiliation: Assistant Professor, Department of Management Sciences, COMSATS University Islamabad, Abbottabad, Pakistan.
+92-336-5634596
zohra@ciit.net.pk
Ayaz Muhammad Hanif
Affiliation: PhD scholar at School of Media and Design, Shanghai Jiao Tong University (SJTU), Shanghai, China
+86-132-62-780760
ayaz.haneef@gmail.com
Abstract
Software development is a process which starts with customer requirements, followed by cost estimation, and finally developing software. Literature shows that accurate cost estimation ensures project completion within time and budget. The aim of this research is to identify and understand the cost estimation methods used by the estimators. The focus is on providing details of software, cost estimation models and techniques.
Cost estimation models are basically of two types: algorithmic and non-algorithmic. A survey is conducted to obtain evidence using questionnaires from IT companies in the KPK region. The data is analysed using descriptive statistical techniques.
The study looks at the popular methods of estimation used, accuracy, position and years of experience of estimator, point of binding, and reuse of historical data. The overall results imply that accurate budgeting requires proper method selection based on project size, years of experience of developer and the effort made in the software development process.
Keywords:
Software development, Cost estimation method, Algorithmic methods, Non-algorithmic methods, Accuracy of cost estimation
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