Software Architecture and Engineering Project Cost Management Peter Müller

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1 Software Architecture and Engineering Project Cost Management Peter Müller Chair of Programming Methodology Spring Semester 2012

2 12. Project Cost Management Overview Project Cost Management 12.1 Software Estimation 12.2 Budgeting 12.3 Earned Value Method

3 3 Estimations in Software Projects Costs Mostly personnel cost (effort) Travel, training Hardware, software Duration is essentially effort / resources Effort Schedule Resources

4 4 Estimation Exercise How many passenger planes does Lufthansa have? - Not counting subsidiaries How can we approach this problem systematically?

5 8 Empirical Estimation: Expert Judgment Estimate is based on experience and historical data Involve experts in - Development techniques - Application domain Most common technique in practice

6 9 Top-Down Estimation Estimation by analogy - Comparison with similar projects - Analysis of differences - Typical example: SAP introduction Pros Quicker and less expensive than other methods Can be done early in the project Cons Underestimation of difficult technical problems likely No detailed justification of estimate Be aware of scalability problems!

7 10 Top-Down Estimation: Delphi Method Step 1: Each expert submits Estimate Justification Step 2: Each expert receives summary of all estimates Step 4: Iterate until consensus is achieved Step 3: Each expert submits New estimate Justification of deviation from average of previous estimates More accurate than ordinary expert judgment - Eliminates outliers More expensive to produce

8 11 Bottom-Up Estimation Estimation by decomposition - Estimating the effort for individual work packages - Cost and accuracy depend on size of the work packages Pros See cons of top-down estimation Cons Underestimation because effort does not grow linearly (due to complexity, etc.) Underestimation of integration effort Requires initial system design

9 12 Program Evaluation and Review Technique Goal: Manage probabilities with simple statistics Approach: Ask several experts for three estimates - Optimistic, Likely (mode), and Pessimistic Important formulas - Mean M = ( O + 4 L + P ) / 6 - Deviation V = ( P O ) / 6 Assumptions - Project effort is normally distributed (more than 20 work packages) - Work package efforts are statistically independent (ignores single underlying cause of delay)

10 13 Algorithmic Estimation Flights per resident per year Passengers per flight Percentage of planes in operation 80,000,000 1 / 365 / 180 / 4 / 0.8 = 380 Residents in Germany Days per year Flights per plane per day Algorithmic estimation is based on - Cost model, represented by formula - Measurement of size (passengers, destinations, etc.) - Parameters (size of planes, planes in operation, etc.)

11 14 Algorithmic Estimation of Software Basic cost model Effort = A Size B m(x) Size: Some measurement of the software size A: Constant factor that depends on - Organizational practices - Type of software B: Usually lies between 1 and 1.5 X: Vector of cost factors m: Adjustment multiplier

12 15 Cost Models Cost models - Define a way to determine the size - Define cost factors X - Provide defaults for parameters A, B, m (based on hundreds of projects) Important examples Effort = A Size B m(x) - Function point analysis - Constructive cost model (COCOMO)

13 16 Measuring Size: Lines of Code Software size can be measured in lines of source code - Most commonly used metric Difficult in early phases of the project (before design is known) - Reuse, make-or-buy decisions Influenced heavily by choice of programming language Should only be used indirectly

14 17 Function Point Analysis Size is estimated based on requirements Inputs Inquiries Outputs Function Internal files External files

15 18 Functions Inputs - Forms, dialogs, messages, XML documents Outputs - Web pages, reports, graphs, messages, XML documents Inquiries (input/output combinations) - Simple web inputs, generally producing a single output Logical internal files (controlled by the program) - Tables, views or files in database External files (controlled by other programs) - Tables or files used from other systems or databases

16 19 Complexity of Functions Determine complexity of each function Weight each function according to complexity Input Simple Average Complex Data elements Checking Formal >10 Formal, logical Factor Simple Average Complex Inputs Outputs Inquiries Ext. files Int. files Formal, logical, requires DB access

17 20 Cost Factors Data communications Distributed processing Performance Heavy use Transaction rate Online data entry Complex interface Online data update Complex processing Reusability Installation ease Operational ease Multiple sites Facilitate change Rate each element from 0 5-0: no influence - 1: insignificant influence - 2: moderate influence - 3: average influence - 4: significant influence - 5: strong influence Technical complexity factor - TCF = sum - Varies between 0.65 and 1.35

18 21 Function Point Computation Adjusted function points: FP = UFP TCF

19 22 Calibration Flights per resident per year Passengers per flight Percentage of planes in operation 80,000,000 1 / 365 / 180 / 4 / 0.8 = 380 Residents in Germany Days per year Flights per plane per day Assume that model (formula) is correct Calibrate model based on comparable airlines Estimate number of residents in the country

20 23 Determining Effort and Size Empirical value for effort - Or use a table Effort = FP 1.4 / 150 Empirical value for size Huge differences in productivity - Factor between individual programmers - Factor 4 between companies

21 24 Function Point Analysis: Discussion Pros Based on requirements (instead of code size) Can be applied in early project phases Can be calibrated (for company, project type) Counting standards by International Function Points User Group Technology-independent Cons Estimation of overall effort (not per phase) Tailored towards functional decomposition (rather than OO) Tailored towards information systems Needs calibration to produce reliable results

22 25 Estimation Techniques: Discussion Empirical Estimation Accurate if experts are experienced Experts can be strongly biased (over-optimism) Algorithmic Estimation Very accurate if model is calibrated Calibration is very difficult and expensive Estimation is expensive Empirical studies - Do not show that uncalibrated algorithmic estimation is, in general, more accurate - Show that algorithmic estimation is more accurate than experts who do not have important domain knowledge

23 26 Other Estimation Strategies Parkinson s Law Work expands to fill the time available - Gold plating Effort is determined by available resources Important for team management Pricing to win Cost is estimated to whatever the customer is willing to spend Common strategy to win projects Features are negotiated later, constrained by agreed costs Costs are fixed, not requirements

24 27 Estimating Process Establish objectives Determine project details Select strategy and plan Estimators, type of validation, historic data Why? Accuracy? Audience? Duration = Effort Duration = 3.0 Effort 1/3 (Effort in person months, Duration in months) Effort = Duration Team Size Different method, review Generate effort estimate Determine team size and duration Validate and finalize Document assumptions Document

25 12. Project Cost Management Overview Project Cost Management 12.1 Software Estimation 12.2 Budgeting 12.3 Earned Value Method

26 12.2 Project Cost Management Budgeting 29 Direct and Indirect Costs Direct costs: Costs incurred for the benefit of a specific project - Salaries of project staff - Equipment bought specifically for the project - Travel expenses Indirect costs: Costs incurred for the joint benefit over multiple projects ( overhead ) - Accounting, quality assurance department - Line management - Rooms, electricity, heating

27 12.2 Project Cost Management Budgeting 30 Unit Costs Projects have to budget for - Direct costs - A certain share of indirect costs Budgets are usually determined by using unit costs - Unit cost: Price per unit of a resource - Loaded rate: Including indirect costs - Unloaded rate: Without indirect costs Examples - Loaded day rate for senior IT consultant: CHF Loaded day rate for internal developer: CHF 1.200

28 12.2 Project Cost Management Budgeting 31 Effort, Duration, and Cost Effort: The number of labor units required to complete an activity Availability: Time a staff person is able to work - For long projects approximately 70% per person Productivity: The relative measure of work in a time unit Duration = ( Effort / Productivity ) / ( Resources x Availability ) Cost = ( Effort / Productivity ) x Unit Cost

29 12.2 Project Cost Management Budgeting 32 Pricing The price is often based on the costs and a margin Price = Costs / ( 1 - Margin ) Example - Costs = CHF Margin = 5% - Price = CHF Price is influenced by - Market situation - Business strategy

30 12. Project Cost Management Overview Project Cost Management 12.1 Software Estimation 12.2 Budgeting 12.3 Earned Value Method

31 12.3 Project Cost Management Earned Value Method 34 The Triple Constraint Scope Time Cost Project objectives are equally important Actions in one project area usually affect other areas

32 12.3 Project Cost Management Earned Value Method 35 Planned Value (PV) The cumulative sum of the approved cost for activities scheduled BAC Corresponds to the cost baseline Budget at completion is the estimated baseline total cost: BAC = PV( end ) PV( t ) Start t Planned Value Planned End

33 12.3 Project Cost Management Earned Value Method 36 Actual Cost (AC) Total cost incurred for the project up to a specified date The actual or real cost of work performed Contains both direct and indirect cost BAC AC( t ) PV( t ) Actual Cost Planned Value Start t Planned End

34 12.3 Project Cost Management Earned Value Method 37 Earned Value (EV) The sum of approved cost estimates for activities completed up to a specified date BAC An activity is completed if PV=EV, regardless of the actual cost AC( t ) PV( t ) EV( t ) Start t Earned Value Actual End Planned End

35 12.3 Project Cost Management Earned Value Method 38 Earned Value Method Expresses effort, cost, and time as monetary value - PV( t ): Worth of the activities scheduled (planned) - AC( t ): Cost spent - EV( t ): Worth of the activities performed Compares the amount of work planned to what was actually accomplished to determine cost and schedule performance AC( t ) PV( t ) EV( t ) t

36 12.3 Project Cost Management Earned Value Method 39 Example Paint wall Paint ceiling Refurnish Clean t Activity PV( t ) AC( t ) EV( t ) Paint wall Paint ceiling Total

37 12.3 Project Cost Management Earned Value Method 40 Cost Performance Index (CPI) Compares budgeted cost of work performed to actual cost Indicates the efficiency of the project CPI = EV AC How much do we get out of one Franc we spend? Activity PV( t ) AC( t ) EV( t ) Paint wall Paint ceiling Total CPI = = 85% 1.300

38 12.3 Project Cost Management Earned Value Method 41 Schedule Performance Index (SPI) Compares work performed to work planned SPI = EV PV How fast does the project progress in relation to how fast it is expected to progress? Activity PV( t ) AC( t ) EV( t ) Paint wall Paint ceiling Total SPI = = 92% 1.200

39 12.3 Project Cost Management Earned Value Method 42 Calculated Estimate at Completion CEAC 1 = BAC CPI CEAC 2 = AC + BAC - EV CEAC 3 = AC + ETC Budget modified by performance - If the current variances are typical for the future Actual to date plus remaining budget - If the current variances are atypical for the future Actual plus a new estimate for remaining work - If the original estimate was fundamentally flawed

40 12.3 Project Cost Management Earned Value Method 43 Interpreting EV-Indicators Typically, indicators are stable after 20% of the project duration CPI > 1: Project is in budget CPI < 1: Project is over budget SPI > 1: Project is ahead of schedule SPI < 1: Project is behind schedule

41 12.3 Project Cost Management Earned Value Method 44 Golden Rules of Earned Value Rule 1: Earned value should be verified by physically examining the work product associated with the activity Rule 2: For unfinished activities, earned value estimates are usually just a guess. Apply one of the following rules consistently - 50/50 Rule: A task is considered 50% complete when it begins and 100% only when it is completed - 20/80 Rule: A task is considered 20% complete when it begins and 100% only when it is completed - 0/100 Rule: A task does not get credit for partial completion, only for full completion

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