The two basic types of estimating techniques are Experienced

The two basic types of estimating techniques are Experienced-based and Algorithmic/Parametric cost modeling. Briefly describe the two techniques and when and how they are used. Do the two techniques work together? If so, how?

Solution

Expert Judgement

This technique captures the experience and the knowledge of the estimator who provides the estimate based on their experience from a similar project to which they have participated. Examples are the Delphi, Wideband Delphi and Work Breakdown Structure (WBS).

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Algorithmic (Parametric) Model

This software cost estimation technique use the mathematical equations to perform the software estimation. The mathematical equations are based on historical data or theory. SLOC (source line of code), function points, and other cost drivers are the inputs. For most algorithmic model, calibration to the specific software environment can be performed to improve the estimation. Examples of the parametric models are COCOMO (COnstructive COst MOdel), COCOMO II, Putnam\'s software life-cycle model (SLIM).

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