Ensuring Estimation Best Practices as per Organizational Benchmark through Quick FPA

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Estimation of a software project is not an easy job. We all know this. Some of us either continue to use the enigmatic mathematical models of estimation or choose to make use of an automated tool for the same. Trusting established traditional estimation practices is more of an organizational habit rather than a well thought software estimation strategy.

For those of us who continue to use traditional models still believe that using this would enable certainty and risk mitigation. As these models are highly technical involving experts who are masters in this domain. They have done software estimation for quite some time and they are trusted to calculate realistic estimates.

However the truth is that in the recent past we have not witnessed a significant change or breakthrough in the software project success rate. Research analyst firms and industry research data have recorded billions of dollars being lost due to Major IT project failure. Research points to software estimation as the prime culprit.

If the Beginning is Weak , How Can the End Result be Substantial and Strong?

The tides of IT project failure have seen well established firms get drowned with severe financial implications and dilution of brand name. Major reasons of failure were attributed to unrealistic or poorly executed estimates causing severe cost overruns and project delays.

If the estimation practices we are currently using are not robust enough to conquer these IT failures, then why are we continuing to use them?
It is more realistic to change paths and adopt a better customized front-end solution for development best practices. If the estimates by an automated tool are in conformity with expert opinion of a development firm, there are huge time savings for estimation effort.

Many of the industry people might argue that even if they engage an automation tool, what is the guarantee that estimates would be certain to ensure project success in the future? Are the estimates comparable to those which have been calculated through years of established mathematically proven technical models?

Organizations who have engaged expert estimators for software estimation tend to believe that knowledge and skill requirement for cost and effort estimation are intricate disciplines. They need to be applied with proven mathematical calculations and algorithms for granting accurate estimates. But is this a correct way of thinking? Had this been true wouldn’t the experts not have let software project failure become a common phenomena in the IT industry.

For successful project estimation we need to overcome both optimistic bias and strategic misunderstanding to be capable of forecasting errors, uncertainties, & probable risks. These are human factors and no matter how hard we try, even the best of technical expertise are prone to error and miscalculation.

Again, there is the possibility of variable expert opinions for the same project – so different experts can produce different estimates. Which one do you consider? Which is correct? Review and revise again? This would mean more time for software estimation and submitting a proposal. Can you take the risk of variability or can you afford the extra time?

Why not employ an automated tool which conforms to the estimate benchmark of your organization and is able to ascertain realistic and reliable estimates?

Does such an automated software estimation tool exist in the first place which confirms to expert benchmarking estimation capabilities?

Quick FPA is an innovation in this domain. Quickness of estimation is its unique attribute.

An automated estimation capability will lend consistency and reliability to the estimates your experts would do as per organizational goals and objectives.

Achieving high project success ratio is a strategic concern for development firms and achieving accurate estimation standards through an automatic tool is a strategic objective.

Quick FPA can be instrumental in achieving strategic objectives.

The estimates which are produced through role specific effort templates, consistent and common opinion, and industry driven statistics, at the quickest pace and lowest cost will be more realistic and reliable. Quick FPA is one such innovation which offers estimation capabilities never before experienced by developers and development stakeholders. Its uniqueness lies in its ability to standardize estimation from both the developer and stakeholder point of view.

Experts can control and apply the highest estimation benchmark through Quick FPA, keeping personal bias and misinterpretation of data – two important risk causing factors – in control. The flexibility and standardized set up allows estimation of implementation types based on user stories, across chosen platform technologies and implementation options. Testing effort is estimated based on possible use case analysis across multiple test environment, browsers and screen types.

The scope document is a robust winning proposal with the highest granular details in terms of scope, time and effort.

Your organizations expert team would control estimation practices through Quick FPA as per organizational benchmarks along with consistency and reliability.

Register on our website and start estimating today!