BY LOGAPPS LLC
The world of software development is constantly evolving, and one area that has seen significant changes in recent years is cost estimation. With more and more companies turning to agile processes for software delivery, the task of providing accurate cost, schedule, and labor estimates has become increasingly challenging. A staggering 80% of major federal IT projects now use agile methodologies, which has made it difficult for planners to keep up and add value.
One of the key aspects of this change is functional size measurement. In the past, software size was often measured by analyzing source lines of code. However, in agile projects, the focus is on features, epics, and user stories. While functional points are well-suited to agile estimation because of their standardization and adherence to a well-established set of rules, the process of functional sizing is often tedious and rigorous.
Fortunately, advances in artificial intelligence and natural language processing (ai/nlp) can help to streamline the process. By using these technologies, analysts can cycle through hundreds of requirements or user stories and translate planned capabilities into software size. This allows the analyst to focus on adjusting the measurement and elaborating the requirements, rather than getting bogged down in the tedious process of functional sizing.
As cost estimators, we can optimize these advances in computer science by increasing the value of projects through rapid estimates, identifying the impact of feature changes, responding to project manager requests, and advising our clients on technology alternatives. By leveraging ai/nlp, we can not only make the estimation process more efficient, but also provide more accurate and reliable estimates.
In today’s fast-paced software development environment, it is more important than ever to have accurate cost estimates. By using functional size measurement and ai/nlp, we can ensure that our estimates are both accurate and timely, which can help to keep projects updated and allocated.
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