Abstract
Effort and cost estimation is essential processes during software development. For agile methodologies as well, several approaches have been proposed so far to estimate the required effort and cost to develop any software system. Genuine assessment of software products is not an easy task as it requires the constant attention of the product owner. For effective estimation, we need to consider various success factors associated with all possible dimensions. In this article, we look at Scrum-based Agile projects that are developed over multiple sprints. We proposed an extension to the existing algorithm based on a total of 36 success factors; Which estimates the development effort and cost required to complete the project. For assessment and calculation, we have taken a data-set of a total of 30 projects categorized into three groups as low, medium, and high-level projects. This dataset is further validated by experienced professionals. We also compared our results with the existing approach and found that our results are cost-effective and require less effort even after considering more success factors.
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