scholarly journals Enhancing software development cost control by forecasting the cost of rework: preliminary study

2021 ◽  
Vol 21 (1) ◽  
pp. 524
Author(s):  
Tarig Ahmed Khalid ◽  
Eng-Thiam Yeoh
Keyword(s):  
Cost Control ◽  
Software Project ◽  
Earned Value ◽  
Software Projects ◽  
Related Factors ◽  
Project Cost ◽  
Cost Overruns ◽  
Factors Affecting ◽  
Two Factors ◽  
The Cost

<p><span>Industrial reports show massive cost overruns associated with software projects. The cost of software reworks constitutes a large portion of the overall cost, reflecting a substantial challenge in cost control. Earned value management (EVM) is the most recognized model for project cost control. However, it shows many limitations in forecasting the software project cost, leading to a considerable challenge in cost control. Nevertheless, the major EVM limitation found is its inability to forecast the cost of software rework. This research investigated the factors affecting this limitation and suggests an enhanced EVM model. The significant contribution of this research is its incorporation of software-related factors into the EVM model. We introduced the software rework index (SRI), which is incorporated into the traditional EVM model to enhance its predictability of the software project cost at completion, including the rework cost. We defined the SRI in terms of two factors: product functional complexity and the team competency. Finally, we evaluated the proposed model using a dataset drawn from five actual projects. The results showed a significant enhancement in forecasting accuracy.</span></p>

Insights on Cost Estimation Methods and its Uses in Software Project Design

2020 ◽  
pp. 166-169
Author(s):  
Aravindhan K
Keyword(s):  
Project Management ◽  
Cost Estimation ◽  
Estimation Methods ◽  
Software Project ◽  
Estimation Model ◽  
Software Projects ◽  
Software Applications ◽  
Software Companies ◽  
Cost Estimation Model ◽  
The Cost

Cost estimation of software projects is risky task in project management field. It is a process of predicting the cost and effort required to develop a software applications. Several cost estimation models have been proposed over the last thirty to forty years. Many software companies track and analyse the current project by measuring the planed cost and estimate the accuracy. If the estimation is not proper then it leads to the failure of the project. One of the challenging tasks in project management is how to evaluate the different cost estimation and selecting the proper model for the current project. This paper summarizes the different cost estimation model and its techniques. It also provides the proper model selection for the different types of the projects.

Talking about the Project Cost Management

2011 ◽  
Vol 71-78 ◽  
pp. 4596-4599
Author(s):  
Bao Xia Cui ◽  
Aai Lin Zhang
Keyword(s):  
Basic Concept ◽  
Cost Control ◽  
Control Method ◽  
Cost Management ◽  
Focal Point ◽  
Project Cost ◽  
The Cost

This paper mainly analyze the cost management from basic concept, cost control method in construction and principal in cost management. The control focal point of the cost management is emphasized in every stage.

Construction Project Costs Management Research

2014 ◽  
Vol 1079-1080 ◽  
pp. 1115-1118
Author(s):  
Lu Liu
Keyword(s):  
Cost Control ◽  
Construction Project ◽  
Project Cost ◽  
Control Goal ◽  
Project Costs ◽  
Construction Project Cost ◽  
Cost Forecasting ◽  
The Cost ◽  
Cost Plan ◽  
And Control

Themain content of the construction project cost management including costforecast, cost plan, cost control. Do cost forecast, cost control goal set,must be ahead of the labor, material, cost forecasting, construction scheme ofchange of the cost forecast and the prediction of auxiliary construction cost.Cost control should follow the principle of conservation and comprehensivecontrol, there are some effective ways to realize the cost control, forexample, take organizational measures to control the project cost, take technicalmeasures to control the project cost, to take economic measures to control theproject cost, strengthen quality management and control of rework rate, etc.

Cost Analysis of Carbon Emission Based on Carbon Finance

2014 ◽  
Vol 1065-1069 ◽  
pp. 3030-3034
Author(s):  
Nai Ping Zhu ◽  
Qi Zhao ◽  
Yang Shen
Keyword(s):  
Carbon Emissions ◽  
Cost Estimation ◽  
Carbon Emission ◽  
Cost Control ◽  
Added Value ◽  
Estimation Model ◽  
Factors Affecting ◽  
Cost Estimation Model ◽  
Carbon Finance ◽  
The Cost

For the purpose of encouraging enterprises to save energy and reduce emissions from the internal demand and providing insight and inspiration to future study,this article not only describes the carbon finance coefficient model based on factors related to carbon finance but also establishes cost estimation model of carbon emissions according to the factors affecting the cost of carbon emissions and carbon finance coefficient.The resulted shows that carbon emissions currency cost namely the monetary costs of carbon emissions is the market value and the currency value of carbon emissions cost based on the financial market conditions.The result of the present work introduces that the cost of carbon emission has a correlation with prevention costs,cost control,carbon content,industrial added value,carbon finance index and so on so that governments and enterprises should take some measures such as perfecting carbon finance system and setting up the cost control of system consciousness to reduce the cost of carbon emissions and protect our environment.

A Simple Method for Cost Estimating and Controlling

2019 ◽  
Vol 5 (2) ◽  
pp. 58-61
Author(s):  
Fanny Fanny
Keyword(s):  
Cost Estimation ◽  
Cost Management ◽  
Software Project ◽  
Cost Estimating ◽  
Earned Value ◽  
Software Projects ◽  
Simple Method ◽  
Value Analysis ◽  
Earned Value Analysis ◽  
Cost Controlling

Based on software project survey from Standish Group’s “CHAOS Report”, 29% of software projects in large enterprises can be delivered on time and not over budget, 53% of software project were over budget or had some problem with the schedule, and 18% of software project were failed. This means that cost management is very important to prevent the possibility of project’s failure. Therefore, in this paper, we provide and recommend some methods and technique in order to do cost estimation and cost controlling as the crucial part of project cost management. We recommend Activity-Base Costing method for cost estimation and Earned Value Analysis for cost controlling. As the result of this paper, these two methods can be applied properly to real project and ease the project manager to estimate and control the cost of the project. 

Information Communication Technology Tools for Software Review and Verification

2009 ◽  
pp. 429-435
Author(s):  
Yuk Kuen Wong
Keyword(s):  
Communication Technology ◽  
Software Quality ◽  
Information Communication Technology ◽  
Software Review ◽  
General Level ◽  
Software Project ◽  
Information Communication ◽  
Software Projects ◽  
Review Team ◽  
The Cost

While information communication technology (ICT) can be considered a well-established discipline, software development projects are still prone to failure. Even if a software project is not classified as a failure, the general level of software quality leaves room for much improvement. It has been suggested that one of the most prevalent and costly mistakes made in software projects today is deferring the activity of detecting and correcting software problems until the end of the project. Hence, the cost of rework in the later stages of a project can be greater than 100 times the project costs. About 80% of avoidable rework comes from 20% of defects. As a result, techniques such as software review for improving software quality are important. Software review (inspection/verification) was originally introduced by Fagan (1976). The review process essentially includes six major steps: 1. Planning: Organize and prepare the software review, typically for preparing the review materials and review procedure, forming review team and scheduling review meeting, selecting review participants, and assigning roles. 2. Overview: Author explains overall scope and the purpose of the review. 3. Individual preparation: Individual reviewers analyze and review the software artefact. 4. Group review meeting: Find errors, sometimes also called “logging meeting.” Review teams correct and the reader summarizes the work. 5. Rework: Defect correction, which involves the author in resolving problems by reviewing, revising, and correcting the identified defect or by decreasing the existence of errors of the software artefact. 6. Follow-up: Validate the correction quality and decide if re-inspection is required

How to Reasonably Control the Project Cost

2018 ◽  
Vol 2 (3) ◽  
Author(s):  
Xuhua Shao ◽  
Yayong Li ◽  
Runbing Yang ◽  
Chunhui Chen
Keyword(s):  
Cost Control ◽  
Rapid Development ◽  
Social Economy ◽  
Reference Value ◽  
Economic Benefits ◽  
Vital Role ◽  
Control Measures ◽  
Project Cost ◽  
Construction Project Cost ◽  
The Cost

In recent years, with the rapid development of China’s social economy, significant advances have also been made in the field of construction engineering. At the same time, with the advancement of urbanization and the increase in the demand for the construction of various infrastructure and service facilities, the number of construction projects has continued to increase. In project construction, project cost control plays a vital role. Implementing effective cost control measures at all stages of the project is an important task to ensure the company's economic benefits. Hereon, this article focuses on the importance of project cost, the factors that affect the cost control, and the related measures to reasonably control the cost at various stages of the project. It is hoped that this will have a certain reference value and will contribute to the improvement of project cost management and control. 

scholarly journals An Analytical Study of Critical Factors Affecting Contractor Efficiency in Construction Projects in Indian Scenario

2018 ◽  
Vol 10 (1) ◽  
pp. 1794-1802
Author(s):  
Shumank Deep ◽  
Laura Simon ◽  
Mohd Asim ◽  
Ali Rahimzadeh ◽  
Sulala Al-Hamdani
Keyword(s):  
Construction Projects ◽  
Indian Subcontinent ◽  
Uttar Pradesh ◽  
Research Approach ◽  
Snowball Sampling ◽  
Critical Factors ◽  
Cost Overruns ◽  
Factors Affecting ◽  
The Government ◽  
The Cost

Abstract Purpose: Recent studies show that lowest bidder tech­nique is mainly used in developing countries such as India to award a contract. It has been demonstrated that the lowest bid is not always the accurate one and can lead to cost overruns and time extensions amongst other prob­lems. The aim of this study was to investigate the critical factors impacting contractor’s efficiency in Indian con­struction projects. Research approach: A survey was sent to participants of construction projects awarded by the government with the lowest bidder technique in Uttar Pradesh, India. For further research, snowball sampling was used, and struc­tured interviews were conducted amongst experienced managers and engineers of these projects on both client’s and contractor’s side.Findings: It was observed that, to a greater extent, the delays were caused due to contractor’s opportunistic behaviour. The main findings are that new bidding meth­odologies are to be tested as they can lead to the choice of a more accurate and realistic bidder. In addition, subjec­tive evaluation components, such as schedule and work­force, should be reflected in contract award methods in addition to the cost criteria. Further studies should be per­formed on the choice of contract awarding methodology based on the project size and type. Originality value: The researcher’s focus was to analyze the influence of contracting methodologies and factors affecting contractor’s performance in lowest bid award project, where this is an area of least focus amongst researchers in the Indian subcontinent.

Control and Management in the Implementation Phase of the Civil Construction

2012 ◽  
Vol 575 ◽  
pp. 46-49
Author(s):  
Yu Zhen Guo
Keyword(s):  
Cost Control ◽  
Project Cost ◽  
Implementation Phase ◽  
Construction Period ◽  
Control And Management ◽  
The Cost ◽  
Cost Of Construction ◽  
Management Of Project

Strengthen the cost control and management of project is very important during the construction period，it is also important for developing the investment interests and reducing the cost of construction. This paper made deep analysis and research on project cost control during the construction period.

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