An Expert Estimator Tool to Estimate Project Cost and Risk with Early Stage of Function Points

Software estimation provides an important tool for project planning; whose quality and accuracy greatly affect the success of a project.There are several area of the software engineering in which we can use the function point analysis like project planning, project construction, software implementation etc.In software development, accuracy and efficiency of cost estimation methodology for a web based application is very important.The proposed web based application (i.e.Expert estimator), is to produce accurate cost estimation and risk estimation throughout the software development cycle to determine feasibility of software project.Cost of the software projects depends on the project size, project type, cost adjustment factor, cost driven factors, nature and characteristics of the project.Software estimation needs to estimates or predict the software costs and software risk early in the software life-cycle.The process of risk management embodies the identification, analysis, planning, tracking, controlling, and communication of risk.It gives us a structured mechanism to provide visibility into threats to projects success.Risk management is a discipline for living with the possibility that future events may cause adverse effects.Risk management partly means reducing uncertainty.The propose tool indicates the risk & estimates risk using risk exposure.Management team to estimates the cost & risk within a planned budget and provide a fundamental motivation towards the development of web based application project.Find heuristic risk assessment using cost factors, indicating product & project risk using some risk factors & check some risk management strategies in under estimation development time.In this paper we proposed the Expert estimator in Java, this tool is used to two different purpose, first to estimate the cost of the software & secondly, to estimate the risk in the software.Most of the software's fails due to over budget, delay in the delivery of the software & so on.Function point is a well known established method to estimate the size of software projects.Its measure of software size that uses logical functional terms, business owners & user, more readily understand.