In project management (i.e., for engineering), accurate estimates are the basis of sound project planning. Many processes have been developed to aid engineers in making accurate estimates, such as
Analogy based estimation
Compartmentalization (i.e., breakdown of tasks)
Cost estimate
Delphi method
Documenting estimation results
Educated assumptions
Estimating each task
Examining historical data
Identifying dependencies
Parametric estimating
Risk assessment
Structured planning
Popular estimation processes for software projects include:
Cocomo
Cosysmo
Event chain methodology
Function points
Planning poker
Program Evaluation and Review Technique (PERT)
Proxy-based estimating (PROBE) (from the Personal Software Process)
The Planning Game (from Extreme Programming)
Weighted Micro Function Points (WMFP)
Wideband Delphi
