The application of estimation methodologies is a critical success factor

The application of integrated methodological effort, time and cost estimation has in practice no basic entry across processes. Current studies show that the application of estimation methodologies is a critical success factor for IT application projects (VSEK 2006). Estimations based on scientific methods are more accurate than estimates of experts, because of fast innovation changes and constantly rising complexity that don't allow any estimation derived from experience. Therefore methods are a solid basis of decisions and secure planning.

 

Proper application of estimation methods

Basis for reliable results is the competent application of methods. It is important to know, that there is no general formula, which allows a realistic effort, time, cost and resource estimate of the existing, varied complexity. Every estimation method has its own basic conditions, rules and metrics, which only works in the respective context. They are not universally applicable. That means, not any method works in every project. Because of the permanent increased requirements, the challenge in practice is to find the best method, use them and, in the best case, calibrate them to a specific environment. The key to successful estimations lies in the purposeful integration and combination of practice proven methods and models.

 

Estimation methods show only the total effort and total time, when used in isolation

All known estimation methods share that they deliver only the total effort and time. When you know the internal or external cost rates, you can also determine the total costs. Companies demand transparency about effort and time at any phase (exit-strategies), at any role (architect, engineering, project manager etc.) and all single activities. The determination of meaningful, detailed results over the entire lifecycle require systematically enhancement, integration and combination of scientifical methods as well as quality methods and risk factors. To this, methods have to analyse and classify regarding to their application areas.

 

Cost Xpert ensures resilient results over all relevant factors

Cost Xpert differentiates estimation methods in sizing methods and estimation methods. Sizing methods refer to sizing of projects, while estimation methods identify and evaluate project and company specific environmental factors. Our integrated methodology IME represent the integration, combination and systematic enhancement of scientific methods and models. The intelligent consideration of all relevant factors ensures the high estimation accuracy in 100% of all IT projects with resilient results over effort, time, costs and resources as well as risks, defects and page count of documentation over the entire lifecycle.