This paper compares the most popular algorithmic models used to estimate software costs [SLIM, COCOMO, Function Points, SEER-SEM and so on). Each has its own strengths and weaknesses. Models may be classified into 2 major categories: algorithmic and non-algorithmic. I have highlighted the cost estimation models that have been proposed and used successfully. This paper provides a comparison of existing software cost estimation methods including the recent advances in the field. Large numbers of estimation models have been proposed over the last 30 years. Software cost estimation is the process of predicting the effort required to develop a software system.
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