How to Estimate the Size, Effort, Time and Cost of a Software Product? Estimation Methods and Tools
In this video from TEXAVI, Pardha Mantravadi walks us through the software estimation process in detailed step-by-steps. It all starts when the team looks at the scope and requirements and come up with the size. Sizing is the most important first step in estimation and unless the size of the work is known it is difficult to arrive at the effort involved. Size of the work involved is independent of the number of people, skills and time etc. From the size, team can estimate the effort required to complete the tasks. Effort is measured in person-hours/days/weeks/months depending on the complexity and size of the task. Using the effort and the productivity of the team, we can calculate the timelines for the completion of tasks. And from the time and unit rate of resources (including people), teams can arrive at the cost involved to complete the tasks and therefore the project.
Watch the video to learn about the actual steps in the estimation process used by agile software teams in IT projects.