Methods for Estimating Project Development Time
There are three common methods of estimating project development times.
1.Historical Method:
- It is based on careful Records of past project.
- New Projects are compared with the records on file of past efforts.
- Many Companies prefer to avoid. (Time Consuming)
- It is only as good as records and even then it is useful only if it fits the
characteristics of a prior development.
2.The Intuitive Method.
- Relies on the Experience of Estimator. (Senior Personnel, Project Manager)
- Most widely used approach.(Being Quick and Convenient)
- Documented cases and Detailed records are not used.
3.Standard Formula Method.
- Offers more concrete approach to estimation.
- Individual factors are identified and quantified.
- Formula specifies how to relate the individual element to produce an estimate
of development time in Hours, Days, or Weeks.
1.Historical Method:
- It is based on careful Records of past project.
- New Projects are compared with the records on file of past efforts.
- Many Companies prefer to avoid. (Time Consuming)
- It is only as good as records and even then it is useful only if it fits the
characteristics of a prior development.
2.The Intuitive Method.
- Relies on the Experience of Estimator. (Senior Personnel, Project Manager)
- Most widely used approach.(Being Quick and Convenient)
- Documented cases and Detailed records are not used.
3.Standard Formula Method.
- Offers more concrete approach to estimation.
- Individual factors are identified and quantified.
- Formula specifies how to relate the individual element to produce an estimate
of development time in Hours, Days, or Weeks.
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