AI Models for Software Estimation

The accurate prediction of software development costs is a critical issue in making good

management decisions and accurately determining how much effort and time a project

requires for project managers as well as system analysts and developers. Estimation is

"The action appraising assessing or valuing" or "The process of forming an

approximate notion of numbers, quantities, magnitudes, etc. without actual enumeration or

measurement". From these definitions, it follows that the task of estimation is not easy to do

precisely.

There are many software cost estimation methods available. No one method is necessarily

better or worse than the other, in fact, their strengths and weaknesses are often

complimentary to each other. Estimating the effort required for software development is the

a most challenging and annoying job that requires expertise, experience as well as good

understanding of the process, project management, metrics, and most important use of proper

estimation models, tools, and techniques.

Good software estimation models can significantly help the software project manager,

project stakeholders to make informed decisions about biding values, planning the project,

resource management, and delivering the project on time and within budget. However, if

managers use inaccurate estimation models for making decisions that may be a recipe for

disaster.