Abstract

Software Project Management is an esteemed activity by team effort for giving assurance to product delivery. Three primary required factors are cost, quality and time. Estimation of those three factors in earlier stage is a difficult process due to under and over estimate constraints. Both the under and over estimate constraints in project life cycle leads loss of project. Hence we required a best suitable model for selecting the optimal criteria’s for cost estimation as well as effort estimation. Cost by project manager and effort by manpower needs an indicator to fine tuning the method for improving the accuracy of an efficient industry. For this purpose more than the last 30 years many researchers proposed many algorithmic and non-algorithmic estimation methods using optimization. This paper focuses on the brief summary of the various optimized cost estimation models in the latest trends. Based on this area the target of cost and effort estimation in the earlier stage is optimized in future.

Key words: Cost, Effort, Time, Quality, Estimation, Optimization