Life cycle cost (LCC) estimating for large management information system (MIS) software development projects

There are five essential areas to consider when developing as LCC estimate for a large MIS system. First is the methodology used. Four basic methodologies are generally used for developing cost estimates: analogy, parametrics, engineering or manpower build-up, and expert opinion. Second is the work breakdown structure used for the estimate and management of the system. Third is the sizing of the software, in terms of lines of code or function points, which is critical to creating a reasonable estimate. Fourth is the estimate of the software development effort, normally developed from a calibrated parametric cost model. The final area is the software maintenance estimate. The author examines each of these areas in detail