Estimation methods
Write a short note on the different estimation methods. Also briefly state all the methods.
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a) Algorithmic cost modeling: The cost estimation is mainly based on the size of software.
b) Expert judgment: The specialists from software development and the application domain employ their experience to predict the software costs.
c) Estimation by analogy: The cost of a project is evaluated by comparing the project to an identical project in similar application domain and then cost can be evaluated.
d) Parkinson’s law: The cost is recognized by available resources instead of by objective assessment.
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