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On what basis you can arrive to an estimation for your project?

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posted Mar 7 by Suresh Babu

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2 Answers

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**Resources**:  Resources are required to carry out any project tasks. They can be people, equipment, facilities, funding, or anything else capable of definition required for the completion of a project activity.
**Times** : Time is the most valuable resource in a project. Every project has a  deadline to delivery.
**Human Skills** : Human skills mean the knowledge and the experience of the Team members. They affect to your estimation. For example, a team, whose members have low testing skills, will take more time to finish the project than the one which has high testing skills.
**Cost**: Cost is the project budget. Generally speaking, it means how much money it takes to finish the project.
answer Mar 8 by Arunkumaarts
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Estimation is the process of finding an estimate, or approximation, which is a value that can be used for some purpose even if input data may be incomplete, uncertain, or unstable.

Estimation determines how much money, effort, resources, and time it will take to build a specific system or product. Estimation is based on −

Past Data/Past Experience
Available Documents/Knowledge
Identified Risks
The four basic steps in Software Project Estimation are −

Estimate the size of the development product.
Estimate the effort in person-months or person-hours.
Estimate the schedule in calendar months.
Estimate the project cost in agreed currency.

answer Mar 9 by Sheetal Gawade