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estimation is how much you think it would costs and budget is how much you decide it will cost after several estimations. budget is how much you can spend.
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∙ 13y ago
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What is the software engineering problem?
Lines of code and function points were described as measures from which productivity metrics can be computed. LOC and FP data are used in two ways during software project estimation: (1) as an estimation variable to "size" each element of the software and (2) as baseline metrics collected from past projects and used in conjunction with estimation variables to develop cost and effort projections.
What is the importance of estimation?
To make answers right and know math right
One cost estimation method can be used in combination with another method.?
Yes. True
What do you mean by decomposition techniques in software engineering?
Software project estimation is a form of problem solving, and in most cases, the problem to be solved (i.e. developing a cost and effort estimate for a softwa project) is too,complex to be considered in one piece. For this reason, we decompose the problem, recharacterizing it as a set of smaller(and hopefully,more manageable)problems. The decomposition approach was discussed from two different points of view: 1). decomposition of the problem and 2).decompostion of the process. Estimation uses one or both forms of partitioning.But before an estimate can be made, the project planner must understand the scope of the software to be built and generate an estimation of its"size".
What is meant by Static budget?
Static budget is a budget which envisages only one level of business activity.Here business activity means volume of production or sales.The static budget is camparitively easy to prepare.It tends to be far less accurate then flexible budget.
What is the different between exact number and other calculation?
Estimation
What is the Advantages of fixed budgets?
fixed budget is the budget whose all estimation is not changed after making this type of budget for more knowledge of budget == == == == == ==
What is the difference between ratio estimation and regression estimation?
diferece between ratio and regression
What is the difference between a balance sheet and a budget variance?
A budget is all expenses of the performances which has done by actual forecasting in front of the income and sources but balance sheet is a sheet that we appear what we have and both sides of balance should be equal and shows the situation of a company but budget shows the estimation of the costs!
Define the term budget?
Its classed as an estimation of the revenue and expenses over a specified future period of time
What is the difference between an estimation and an approximation?
estimation is to think of an answer before measuring the quantity and approximation is to round off.
What are the different types of functions?
There are a few different types of a functional budget. These include a sales budget, production budget, and a purchase budget.
What are different type of function?
There are a few different types of a functional budget. These include a sales budget, production budget, and a purchase budget.
Why cost estimation is the most challenging tasks in project management?
I wouldn't consider it the most challenging, but it is challenging. The problem is that there are lots of unknowns when it comes to costs for a project, especially a software project, where changes are always there. The Project Manager has the tough job to balance between the cost estimation and keep the project in check of its budget. There are lots of cost estimating techniques out there.
What are the different types of functional budgets?
There are a few different types of a functional budget. These include a sales budget, production budget, and a purchase budget.
What is Construction Estimation Services?
Construction estimation services involve the assessment and prediction of costs associated with construction projects. These services encompass tasks like project cost estimation, bid preparation, value engineering, and risk assessment. Their purpose is to ensure that construction projects are financially viable and executed within budget constraints.
Why cost estimation is important for project management?
Cost estimation is important because each project has the risk of added costs that weren't consider up front throwing the project into a state where you may not have the budget required to continue working on the project. The cost estimation should include the initial assessment plus % available for added costs.
