The process of predicting the amount of work, typically measured in person-hours or cost, required to develop or maintain a software system is a critical element in project planning. These techniques encompass a range of approaches used to forecast the resources necessary to complete a software project. For example, analogous estimation relies on historical data from similar projects, while algorithmic models utilize mathematical formulas based on factors like lines of code or function points.
Accurate project forecasting is essential for effective resource allocation, budget management, and realistic scheduling. A well-defined estimation strategy provides a foundation for making informed decisions about project scope, team composition, and overall feasibility. Historically, inaccurate predictions have been a major contributor to project overruns and failures, highlighting the significance of employing robust and reliable techniques in this area.
