At QSM, we have one of the largest industry databases in the world of completed software projects. The data comes from our clients with their permission and this data has been the backbone of our software estimation business for over 35 years. We can see what is reasonable on software development projects as it relates to cost, team size, effort, duration, size, and reliability. Because of our experience we are often asked about risk factors and estimation accuracy early in the project lifecycle. We explain that increased accuracy comes with having historical data and good sizing information.
But what happens on the early estimates when clients don’t have history and detailed sizing information? Can they still generate scope level estimates so they can make good business decisions? The answer is yes. Risk management techniques can be applied and project uncertainty can be calculated so organizations can plan effectively. This is very important because big business decisions are often made early. Decision-makers need to know if they should move forward with a project and they need to know how much time and effort to allocate.
We use SLIM-Estimate, which is a leading estimation tool that leverages the Putnam Model. It generates reliable estimates based on QSM’s time-tested forecasting models and historical data and it also provides scope level estimates when project information is hard to find. It will allow you to see the chance you have of hitting your project goals and it will allow you to factor in your uncertainty.