Comparison of various software cost estimation models

Abstract

The main challenge within the development of enormous and sophisticated projects comes is that the cost estimation with a lot of accuracy. Several estimation models are introduced within the course of your time, that concludes that software cost estimation isn't precise and new ways or models ought to be planned fairly often. The business of software ought to be economical. Due to fast amendment in technology, implementation of complicated software systems at cheaper cost and also the urge to take care of higher quality software are a number of the foremost challenges for the software firms. One among the toughest works is cost estimation, within the field of software engineering. It's the estimation of total cost needed in developing software. An in depth summary of existing software cost estimation techniques or models are given by this model. The models are majorly classified in two type's algorithmic and non-algorithmic models. Key think about the event of recent software is that the choice of the appropriate cost estimation model and it additionally depicts the strengths and weakness of varied cost estimation models. Researchers have planned numerous ways of cost estimation. This paper offers associate insight into the varied models and techniques utilized in estimating cost of the software. The advantages and disadvantages of the present cost estimating techniques are highlighted during this paper. There is as such not any single methodology which may be considered the simplest methodology thus during this paper it's urged that a mix of the ways ought to be accustomed get an correct cost estimate.