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This paper summarizes the current state of the art and recent trends in software engineering economics. It provides an overview of economic analysis techniques and their applicability to software engineering and management. It surveys the field of software cost estimation, including the major estimation techniques available, the state of the art in(More)
The emerging discipline of software risk management is described. It is defined as an attempt to formalize the risk-oriented correlates of success into a readily applicable set of principles and practices. Its objectives are to identify, address, and eliminate risk items before they become either threats to successful software operation or major sources of(More)
Much of current software engineering practice and research is done in a value-neutral setting, in which every requirement, use case, object, and defect is treated as equally important; methods are presented and practiced as largely logical activities; and a "separation of concerns" is practiced, in which the responsibility of software engineers is confined(More)
I n mature engineering disciplines, risk management has been de rigeur for centuries. When Michelangelo set out to raise the dome of St. Peters in 1547, he was well aware of the potential collapse zones under the staging, the possibility of materials failure, and the human capacity for error. For each of these major risks he prepared a mitigation plan: a(More)
This paper summarizes several classes of software cost estimation models and techniques: parametric models, expertise-based techniques, learning-oriented techniques, dynamics-based models, regression-based models, and composite-Bayesian techniques for integrating expertise-based and regression-based models. Experience to date indicates that neural-net and(More)
Current software cost estimation models, such as the 1981 Constructive Cost Model (COCOMO) for software cost estimation and its 1987 Ada COCOMO update, have been experiencing increasing difficulties in estimating the costs of software developed to new life cycle processes and capabilities. These include non-sequential and rapid-development process models;(More)