BUSI 3309 Lecture Notes - Lecture 5: Function Point, Delphi Method, Software Projects
18 May 2017
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Document Summary
Estimating: process of forecasting/approximating the time and cost of completing the project deliverables, helps support decisions and schedule work, develop time-phased budgets, establish the project baseline, determine worth of project and progress. Factors that affect estimates: planning horizon, project duration, people, culture, project structure, padding estimates. Guidelines for estimates: have people who know the tasks make the estimate, use several people, use normal conditions, consistent time units, tasks are independent, no allowances for contingencies, include risk assessment. Preferred approach: make rough top-down estimates, develop wbs/obs, make bottom-up estimates, develop schedules and budgets, reconcile differences between top-down and bottom-up estimates. Top-down approaches: don"t consider individual activity issues/problems (conceptual phase, made by top managers with little knowledge at project duration, consensus methods: meeting of experienced top/middle managers. Delphi method is a group decision process about likelihood that events will occur: ratio methods: using ratios or surrogates for estimates (ex; contactor building a house).
