Comparative Analysis of Cost Estimation Techniques in Software Engineering: A Study of Traditional Vs. Agile Approaches"

Abstract

Software development teams face challenges in accurately estimating project costs, which is critical for project feasibility and success. Traditional cost estimation techniques have been used for decades, but the emergence of agile methodologies has led to the development of new techniques. This research paper aims to compare the effectiveness of traditional and agile cost estimation techniques in software engineering and investigate their impact on project outcomes. The study will answer research questions on the types of techniques used, their effectiveness, differences, and impact on projects. The study will be significant to software development teams, project managers, and stakeholders, providing insights into the suitability of techniques for aligning with project goals and objectives. The paper is limited to software development projects and focuses on the cost estimation phase. The research paper will be organized into six sections, starting with the introduction, literature review, methodology, results, conclusion and recommendations, and references. The literature review provides an overview of software cost estimation, traditional and agile techniques, and empirical studies. Traditional techniques are based on historical data and expert judgment, while agile techniques focus on collaboration and communication. Traditional techniques are more structured and objective, while agile techniques are more subjective and flexible. Empirical studies have investigated the effectiveness of different techniques in software engineering.