Software estimation is used to estimate time and resource required for a particular project.
There are three types of estimation :
Break project into number of tasks
Evaluate each task based on complexity i.e ( Low , Medium , High ) and size of work ( Small, Medium, Large)
Once this done , then estimate time for each task based on complexity and size of work. For example , Low complexity and small sized work would require a weeks time.
There are three types of estimation :
- Ballpark estimates or order of magnitude: This estimate would be two to four times actual value ideally.
- Rough estimates: This estimate would be closer to the actual value. Ideally it will be about 50% to 100% off the actual value. It is used when needs are well understood
- Fair estimates: This is a very good estimate. Ideally it will be about 25% to 50% off the actual value. Fair estimate is used in maintainence projects where you know what needs to be done and you have already done it.
Break project into number of tasks
Evaluate each task based on complexity i.e ( Low , Medium , High ) and size of work ( Small, Medium, Large)
Once this done , then estimate time for each task based on complexity and size of work. For example , Low complexity and small sized work would require a weeks time.
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