Software development effort estimation: Difference between revisions

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m Inserted a neutral description of AI-based estimation tools as part of contemporary formal estimation methods, reflecting current trends.
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* Formal estimation model: The quantification step is based on mechanical processes, e.g., the use of a formula derived from historical data.
* Combination-based estimation: The quantification step is based on a judgmental and mechanical combination of estimates from different sources.
Recent advancements in estimation practices include the use of AI-powered tools, which apply machine learning techniques to analyze project parameters and historical data. These tools are increasingly incorporated in early-stage planning to generate cost and effort predictions, particularly in contexts lacking extensive prior estimation data.
 
Below are examples of estimation approaches within each category.