A Comparative Analysis of Software Cost Estimation Techniques: From Expert Judgment to Algorithmic Models
Keywords:
Software, Cost, Estimation, Techniques, Algorithmic, ModelsAbstract
The estimation of software costs is an essential component of project management, as it contributes to the formulation of budgets, the distribution of resources, and the scheduling of projects. A comparative comparison of software cost estimation methodologies is presented in this research work. The paper focuses on expert judgement and algorithmic models as its primary areas of investigation. We take a comprehensive look at the many methods of expert judgement, covering the most frequent approaches and the benefits and drawbacks associated with each. Analyses are also performed on algorithmic models, which include regression-based techniques as well as advanced machine learning algorithms. These analyses emphasise the advantages and disadvantages of the associated algorithms. A comparative study is carried out on the basis of preset criteria, which reveals insights into the relative effectiveness of algorithmic models in comparison to expert judgement.
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