Comparison of estimation methods of cost and duration in IT projects

Authors:
Stanislav Berlin;Tzvi Raz;Chanan Glezer;Moshe Zviran
Affiliations:
Faculty of Management, Tel Aviv University, Tel Aviv 69978, Israel;Faculty of Management, Tel Aviv University, Tel Aviv 69978, Israel;Department of Industrial Engineering and Management, Ariel University Center of Samaria, Ariel 44837, Israel;Faculty of Management, Tel Aviv University, Tel Aviv 69978, Israel
Venue:
Information and Software Technology
Year:
2009

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Abstract

Producing accurate and reliable project cost estimations at an early stage of a project's life cycle remains a substantial challenge in the information technology field. This research benchmarks the performance of various approaches to estimating IT project effort and duration. Empirical data were gathered from various ''real-world'' organizations including several prominent Israeli high-tech companies as well as from the International Software Benchmarking Standards Group (ISBSG) IT project database. The study contrasts two types of models that have been employed to estimate project duration and effort separately: linear regression estimation models and models deriving from a more novel approach based on artificial neural networks (ANNs).