Integrating software effort estimation with risk management

Context Risks associated with software projects play a significant role on delivery of software projects within a given budget. These risks are due to volatility in project requirements, availability of experienced personnel, ever-changing technology and many more project cost factors. Effort spent...

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Bibliographic Details
Published in:International journal of system assurance engineering and management 2022-10, Vol.13 (5), p.2413-2428
Main Authors: Singal, Prerna, Sharma, Prabha, Kumari, A. Charan
Format: Article
Language:English
Subjects:
Engineering
Engineering Economics
Estimates
Exposure
Logistics
Marketing
Mathematical analysis
Organization
Original Article
Quality Control
Reliability
Risk exposure
Risk management
Safety and Risk
Software development
Waterfalls
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Summary:Context Risks associated with software projects play a significant role on delivery of software projects within a given budget. These risks are due to volatility in project requirements, availability of experienced personnel, ever-changing technology and many more project cost factors. Effort spent on managing the risks is termed as the risk exposure of the project. In this research, this risk exposure has been added to effort estimate of a software project. This total effort is termed as the integrated effort estimate. Objective To improve the accuracy of software effort estimates by integrating the risk exposure with the initial effort estimate of the project. Method A formula to calculate integrated effort estimate of a software project has been proposed in the paper. This proposed formula has been tested on two datasets collected from industry, one for waterfall projects and another for agile projects. Initial effort estimates for waterfall projects are calculated using CoCoMo II and for agile projects are calculated using story point approach by Ziauddin. Results The integrated effort estimates were more accurate than their corresponding initial effort estimates on all the four parameters: MMRE, SA, effect size and R 2 . Conclusion Integrated effort estimates are more comprehensive, reliable, and accurate than the initial effort estimates for the project.
ISSN:0975-6809
0976-4348
DOI:10.1007/s13198-022-01652-y