Software cost estimation is a main concern of the software industry.
However, the fact is also that in today’s scenario, software industries are
more interested in other issues like new technologies in the market, shorter
development time, skill shortage etc. They are actually deviating from critical
issues to routine issues. Today, people expect high quality products at very
low costs and same is the goal of software engineering. An accuracy in software
cost estimation has a direct impact on company’s reputation and also affects
the software investment decisions. Accurate cost estimation can minimize the
unnecessary costs and increase the productivity and efficiency of the company.
The objective of this paper is to identify the existing methods of software
cost estimation prevailing in the market and analyzing some of the important
factors impacting the software cost estimation process. In order to achieve the
objective, a survey was conducted to find out:
● Nature of projects that companies prefer.
● Impact of training on employees in software cost estimation.
● How many people review the estimated cost?
● How much risk buffer the company keeps for future prospects?