Software Cost Estimation Using Economic Production Models.

Author List: Hu, Qing; Plant, Robert T.; Hertz, David B.;
Journal of Management Information Systems, 1998, Volume 15, Issue 1, Page 143-163.
One of the major difficulties in controlling software development project cost overruns and schedule delays has been developing practical and accurate software cost models. Software development could be modeled as an economic production process, therefore the authors propose a theoretical approach to software cost modeling. Specifically, they present the Minimum Software Cost Model (MSCM), derived from economic production theory and systems optimization. The MSCM model is compared with other widely used software cost models, such as COCOMO and SLIM, on the basis of goodness of fit and quality of estimation using software project data sets available in the literature. Judged by both criteria, the MSCM model is comparable to, if not better than, the SLIM, and significantly better than the rest of the models. In addition, the MSCM model provides some insights about the behavior of software development processes and environment, which could be used to formulate guidelines for better software project management polices and practices.
Keywords: economic production theory; software cost estimation; software cost models; software production; software project management
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#191 0.249 model models process analysis paper management support used environment decision provides based develop use using help literature mathematical presented formulation
#151 0.199 costs cost switching reduce transaction increase benefits time economic production transactions savings reduction impact services reduced affect expected optimal associated
#232 0.172 software development product functionality period upgrade sampling examines extent suggests factors considered useful uncertainty previous called complementarities greater cost present
#97 0.089 set approach algorithm optimal used develop results use simulation experiments algorithms demonstrate proposed optimization present analytical distribution selection number existing
#110 0.062 theory theories theoretical paper new understanding work practical explain empirical contribution phenomenon literature second implications different building based insights need
#152 0.055 software development process performance agile processes developers response tailoring activities specific requirements teams quality improvement outcomes productivity improve fit maturity
#139 0.053 project projects failure software commitment escalation cost factors study problem resources continue prior escalate overruns taken failing troubled sunk fail