Software Cost Estimation

The development of a successfull software depends upon the accurate estimation, as various factors are responsible for the overall assessment of any project. The Sofware Cost Estimation is the most complicated and challenging task in software industry. Many estimation models are introduced by the time, that concludes estimation is not a precise science and demanding of new methodologies should be proposed day by day. Software Cost Estimation of a project is vital to the acceptance or rejection of the development of software project. Various techniques have been introduced. This paper enlightens two categories of Software Cost Estimation techniques ie Algorithimic and Non Algorithimic. This paper evaluates the Algorithmic Models such as SLIM, COCOMO, Function Points and Non Algorithimic Models such as Analogy, Expert Judgement which are used to estimate software costs. Poor planning frequently leads to project failure and considerable outcomes for the project team. Software project managers should be aware of the increasing of project failures. In this paper, several existing methods for software cost estimation are illustrated and their aspects will be discussed.