Objective framework for early-stage comparison of software development project types

• Published in: 2015 IEEE/ACIS 14th International Conference on Computer and Information Science (ICIS) pp. 393 - 398
• Main Authors: Donghwoon Kwon, Hammell, Robert J.
• Format: Conference Proceeding
• Language: English
• Published: IEEE 01.06.2015
• Subjects: Biological system modeling; Cost Estimation; Decision trees; Estimation; Expected Monetary Value (EMV); Investment; Mathematical model; Net Present Value (NPV); Numerical models; Quantitative Risk Analysis; Software; Software Project Selection
• DOI: 10.1109/ICIS.2015.7166626

This paper proposes to establish a framework for use in the earliest stages of a software project for comparing the various types of software development, thus allowing this information to be part of the project selection process. The possible types of software development projects are classified into three categories: new development, reuse-based without modification, and reuse-based with modification. We propose to utilize a decision tree framework that includes quantitative risk management related to project cost and possible project success. The quantitative risk analysis consists of cost estimation, possibility (success rate), Net Present Value (NPV), and Expected Monetary Value (EMV). Probabilistic schedule estimation based on the International Function Point User Group (IFPUG) function point analysis and the International Software Benchmarking Standards Group (ISBSG) regression equations (on which we previously conducted research) is also fundamental to the project cost estimation of each decision node. The use of the proposed framework provides more accurate and objective comparisons among the types of software development in the early stages of the software project life cycle.