Methodical Survey: Software Cost Estimation

A key step for instrumenting the method of choice of selecting cost estimation method from the literature and in practice inside the organization from a multiplicity of estimation techniques is a critical and crucial task. As cost of development reflects the quality of software of any organization a proficient way of selecting an estimation technique is highly required. Uncertainty and sensitivity are the main criteria of this review. The current attempt for reviewing is to identify the vastly used cost estimation method satisfying the review questions to find out the uncertainty and most sensible factors that influence and effect most during estimation to reduce the variability between estimated and actual cost of software development because the expected difference in cost has a major effect on the global feasibility of a project. The main objective of this review is to extend the COCOMO model for future economic influence by using simple, open, effective and transparent calibration approach which helps for good decision making for software practitioners for future software development models that is wanting for last 4 decades.