What is meant by Effort estimation?
The term "effort estimation" refers to the approximate determination of the necessary resource input for carrying out a project or task. It includes the forecast of time, personnel, and financial expenditure and serves as a basis for project planning, budgeting, and decision-making.
Typical software functions in the area of "effort estimation":
- Project structuring: Breaking down the project into work packages and subtasks.
- Resource allocation: Assigning personnel, time, and costs to individual tasks.
- Estimation method integration: Implementation of various estimation techniques such as expert estimation or algorithmic methods.
- Scenario analysis: Creation of best-case, worst-case, and most-likely scenarios.
- Comparative analysis: Comparison of estimates with historical data from similar projects.
- Risk assessment: Identification and quantification of factors that may influence the estimated effort.
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