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Review Article Open Access
Software estimation models should support managerial decision making in software projects. Software cost estimation is the process of predicting the cost and effort required to develop a software system. Many estimation models have been proposed over the last twenty to thirty years. Many software companies track and analyze project performance by measuring cost estimation accuracy. A high estimation error is frequently interpreted as poor estimation skills. One of the problems in software cost estimation is how to evaluate estimation models. A key factor is the accuracy of its estimates in selecting a cost estimation model. Unfortunately, despite the large body of experience with estimation models, the accuracy of these models is not satisfactory. The paper includes comment on the performance of the estimation models and description of several approaches to cost estimation. This paper summarizes several classes of software cost estimation models and techniques.