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Result Analysis and Extractions of Proposed Better Accuracy and Risk Handling in Cost Estimation using Assessment Values


Ms. Renu Goswami , Geetanjali Institute of Technical Studies, Udaipur, Rajasthan; Mr. Ajay Kumar Sharma , Geetanjali Institute of Technical Studies, Udaipur, Rajasthan


Software Engineering, Cost Estimation, COCOMO, Risk Assessment, Estimated Assessment Value (EAV), Result Evaluation, Implementation


Cost estimation is the major area of work in the direction of software engineering due to its direct connection of commercial foregrounds of projects. Hence the process should be effective enough to have accurate measurement and timely considerations of changes. Traditionally there are various approaches developed to estimate the cost of software projects. Among them COCOMO is the most popular one. During the last few years this model is revised to cover all the aspects of development and connect them all with its cost estimations. But still there are some problems associated with it. In COCOMO-II the scaling was made manually which will depends on the perception of selector and misleads the results. Also the risk was not considered with any of the previously developed model. This work uses the accuracy based Estimated Monetary Value (EMV) model specifically for overcoming the issues related to risk impacts on estimation. The EMV process is concerned with analysing, identifying and responding to particular risks in its overall lifecycle. It actually applies the tolerance limits along with the uncertainties to the prior estimation. Analytical and numerical analysis shows that EMV based measurement generates more accurate values of estimation (Prior) and it was nearer to actual cost of project (Posterior). As the number of execution gets increased then the system will be more accurate and reliable. Here the cost calculation is the planning entity but with EMV we can have its benefits towards developing a more reliable and robust system with overall risk coverage.

Other Details:

Manuscript Id :IJSTEV3I4017
Published in :Volume : 3, Issue : 4
Publication Date: 01/11/2016
Page(s): 59-69
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