Skip to main content

cost estimation model

cost estimation model A mathematical model used to predict the overall cost of creating software or hardware. Usually for hardware the model comprises a database of past achieved effort/duration/costs for development and manufacture (sometimes maintenance), and support for the estimator in matching characteristics of the historic data with those of the proposed new systems (or similar parts of the systems). The estimate of cost is then formed from the historic data, from constants and parameters derived from the database, and is modified using engineering judgment and a knowledge of the risk factors and local conditions.

For software the expected size of the software (lines of code) is usually used as the main input to a cost estimation model, with other inputs characterizing the main risk factors in the development. An underlying (software estimation model) database of past projects is built up from experience in a particular company or using one software paradigm. Typical software cost estimation models are COCOMO (Barry Boehm) and GECOMO (GEC Software, UK), PRICE S (RCA), PROMPT Estimator (LBMS, UK), and SLIM (Putnam, Norden, Rayleigh model, software from QSM Inc, US). The models make no apportionment of costs to different life-cycle phases, and generally give cost to deliver. Some models (e.g. COCOMO) can be used to estimate maintenance costs.

See also function point analysis.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"cost estimation model." A Dictionary of Computing. . Encyclopedia.com. 15 Oct. 2018 <http://www.encyclopedia.com>.

"cost estimation model." A Dictionary of Computing. . Encyclopedia.com. (October 15, 2018). http://www.encyclopedia.com/computing/dictionaries-thesauruses-pictures-and-press-releases/cost-estimation-model

"cost estimation model." A Dictionary of Computing. . Retrieved October 15, 2018 from Encyclopedia.com: http://www.encyclopedia.com/computing/dictionaries-thesauruses-pictures-and-press-releases/cost-estimation-model

Learn more about citation styles

Citation styles

Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA).

Within the “Cite this article” tool, pick a style to see how all available information looks when formatted according to that style. Then, copy and paste the text into your bibliography or works cited list.

Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. Therefore, it’s best to use Encyclopedia.com citations as a starting point before checking the style against your school or publication’s requirements and the most-recent information available at these sites:

Modern Language Association

http://www.mla.org/style

The Chicago Manual of Style

http://www.chicagomanualofstyle.org/tools_citationguide.html

American Psychological Association

http://apastyle.apa.org/

Notes:
  • Most online reference entries and articles do not have page numbers. Therefore, that information is unavailable for most Encyclopedia.com content. However, the date of retrieval is often important. Refer to each style’s convention regarding the best way to format page numbers and retrieval dates.
  • In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list.