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The ISO 14143-1 standard is the first in a set of five documents constituting the international standard on Functional Size Measurement for software. This first document specifies a mandatory set of concepts required for functional size measurement and tackles it from a measurement method perspective. This is a unique perspective, in contrast to other standardization work in progress on software. This article presents a structured analysis of ISO 14143-1 to analyze its completeness and mapping to measurement principles and related concepts. This analysis is carried out following the structure of a process model for software engineering measurement methods identifying the distinct steps involved, from the design of a measurement method to the exploitation of the measurement results. Strengths and weaknesses are identified and then discussed from the perspective of the intended users of this standard: users and designers of functional size measurement methods.