# Types of Cost Estimation Models in Software Engineering

There are various cost estimation models that can be used in software engineering. They include the Waterfall model, Analogous estimation, SEER-SEM, and ESTIMACS. Each has their own pros and cons. This article will help you decide which is the best for your projects. Let’s take a closer look at each type. Once you know which one to use, you can start estimating your software projects.

## Analogous estimation

Analogous estimating methods use the characteristics of a current project to make a more accurate estimate. These estimators prefer to use ranges of estimates instead of single values. Three-point estimates can be processed using a PERT or triangular distribution. In addition, they use a minimum and a maximum estimate to represent optimistic and pessimistic points. This method is very effective when estimating the time and cost of a project.

When used for estimating costs, analogous estimating is a common approach. It has several advantages over other methods of estimation. It allows you to produce single-point, two-point, or three-point estimates. The former is better suited to small-scale projects because individual team members are more familiar with the tasks they will need to complete. In addition, bottom-up estimates have the advantage of feeling more tangible since they are based on past data, without statistical adjustments or data manipulation. Analogous estimating is more of an expert judgment than a mathematical calculation.

## Waterfall model

The Waterfall model for cost estimation in software engineering is a popular software engineering methodology that focuses on meticulously planning and implementing a methodical approach. It is a popular choice for projects where requirements and constraints are known up front. This approach is characterized by gradual, iterative changes, which make it easier to find and fix problems during the early phases of a project. This methodology is particularly useful for complex projects that have a large scope.

The Waterfall model has two sub-phases: design and implementation. In the first phase, the team brainstorms and theorizes possible solutions. During the second phase, programmers create actual code to put the idea into practice. Once the product is ready, it is tested to ensure that it functions as intended and meets all requirements. The testing team uses design documents, user cases scenarios, and personas to ensure the quality of the final product.

## SEER-SEM

SEER-SEM cost estimation models in the software engineering industry are based on Jensen’s 1983 model. These models are based on an extensive historical data set, stratified into four usable platforms. They can identify cost drivers, including the amount of labor and time needed, staffing constraints, and the rate at which the requirements change. They also analyze the impact of new versus reused software on costs. The SEER product line has expanded to include an integrated circuit, hardware, and software estimation model.

This cost estimation model combines the neural network approach and fuzzy logic approach. Previous studies have evaluated the neuro-fuzzy model. The neuro-fuzzy model was evaluated using data from a COCOMO industrial project. The model’s performance was verified with published data from COCOMO. Its parameter inputs were evaluated using data from COCOMO and other industrial projects. Its proposed neuro-fuzzy model was evaluated using published industrial project data. Researchers at the University of Southern California provided guidance for parameter inputs.