ABSTRACT
This chapter addresses the methodologies used to estimate cost and time, and its management implications. Software estimates of effort, time, and costs are living estimates based on the best information available at the time of the estimate. When Software Design and/or code is reused, the estimation of its real cost is usually based on an approach called the equivalent source lines of code count. The Delphi technique was conceived at The Rand Corporation in the late 1940s to make predictions about future events; it was named after the Greek oracle of antiquity, located at Delphi. It is a consensus technique. A newer concept in software estimation is the advent of web-based tools. These tools can be used from anywhere with a web browser by anyone that can capture basic requirements. Custom tools, for internal use only, are often built by a variety of organizations to address their specific software estimation efforts.
