Project Estimation Techniques
Project Estimation Techniques
Project Estimation Techniques
Project manager can estimate the listed factors using two broadly recognized techniques –
Decomposition Technique
Decomposition Technique This technique assumes the software as a product of various
compositions. There are two main models:-
Line of Code Estimation is done on behalf of number of line of codes in the
software product.
Function Points Estimation is done on behalf of number of function points in the
software product.
Advantages of the Functional Point Method:
The concept of this technique is to break down the work into smaller tasks. Each
task can in turn be broken down further. This technique is very useful for the project
development team and project management team to become familiar with the scope
of the project, identifies work tasks, needed resources, and cost estimation. It also
helps to monitor the project’s progress.
Project managers use the Work Breakdown Structure (WBS) to estimate projects
and make complex projects more manageable.
Using a WBS provides a number of benefits to the management and to the
development teams.
First, it gives the management an idea about the size and complexity of the
project.
Second, it helps in planning, scheduling, and monitoring a project realistically.
This is possible because all the tasks in the project can be preformed measurable
targets for each task.
To aid planning, scheduling, and monitoring a project, you can use tools such as:
Program Evaluation and Review Techniques (PERT)
Critical Path Method (CPM)
Timeline charts
Gantt charts
Assists with more accurate project estimation in cost, effort, resources, and schedule
There are many empirical estimation technique but most popular are
Disadvantages:
Human error, considering not all factors and aspects of the project, individual bias, more
chances of failure.