Cost and effort estimation

Inaccurate estimation of software development effort is one of the most important reasons of IT-project failures. While too low effort estimates may lead to project management problems, delayed deliveries, budget overruns and low software quality, too high effort estimates may lead to lost business opportunities and inefficient use of resources. These  problems motivated us to conduct research that aims at significant improvements in effort estimation methods.

1. Produce high-quality, high-impact research results on software cost estimation
   
2. Translate research results into industrial practices and software tools
   
3. Be a stimulating and efficient work environment for researchers and PhD Students with topics relevant for software cost estimation
   

The main focus of the research is to improve judgment-based effort estimation (expert estimation), which is the estimation approach most frequently used by the software industry. A better understanding of the mental steps involved in expert estimation is necessary to achieve robust improvement of estimation processes. We have recently extended the group's scope to include research on improving requirements processess and requirements specifications. This followed from realizing that these elements can have significant impact on the estimation process.

A great challenge when studying expert judgment is to understand the unconscious steps involved. To study these steps, we make use of multidisciplinary competencies, especially psychology and software engineering, and conduct studies in realistic software development effort estimation environment. Our methodology is theory-based, yet aiming at concrete improvements to practices and tools.

• We have developed (and continuosly update) a comprehensive Library of research papers on software cost estimation. 
• A book chapter summarizing our research up to 2009 can be found here.
• The Wikipedia page on software development effort estimation.