ARTICLE SOFTWARE ENGINEERING ECONOMICS TOPIC

"What type of advantages we can get to study software engineering economics in future (software world)?"
Q.WHAT IS SOFTWARE ENGINEERING ECONOMICS? software engineering economics provides an overview of economic analysis techniques and their applicability to software engineering and management. It surveys the field of software cost estimation, including the major estimation techniques available, the state of the art in algorithmic cost models, and the outstanding research issues in software cost estimation. Q.CAN OTHER THING OVERCOME THIS SUBJECT? basically software engineering economics is not a subject only it's a vast field. The field of software economics seeks to develop technical theories, guidelines, and practices of software development based on sound, established, and emerging models of value and value-creation---adapted to the domain of software development as necessary. The premise of the field is that software development is an ongoing investment activity---in which developers and managers continually make investment decisions requiring the expenditure of valuable resources, such as time, talent, and money. The overriding aim of this activity is to maximize the value added subject to an equitable distribution among the participating stakeholders. so one other thing can overcome software engineering economics.

Q.IS THIS HELPFUL IN SOFTWARE WORLD? yes it is very much helpful in software field because after learning this subject we know that how to manage cost estimation before development so there will be less chances of loss. because of this we give a good quality of software to our user in a required and giving time because through software economics we can easily calculate time n cost making of software.
ADVANTAGES OF SOFTWARE ENGINEERING ECONOMICS IN SOFTWARE WORLD: The major benefit in software world of having an economic perspective is that it provides a person a balanced view of software solutions and not only the programming aspects are taken into account but also the problems faced to provide the best possible solution within tight resources. These methods for cost estimation provide more benefits in relation to their costs than do other approaches. A good estimation model also addresses most of the problems arising in a software life cycle .For ex: how many features to put into the product, how many man hours and money the software development will consume ,how much to invest in tools and training etc. Also a well defined model can avoid underestimates, misinterpretations, overexpectations which are common in software field .In a good model we cannot reduce the cost without changing some aspects in the project with approval of client hence it raises credibility. In addition software cost estimation gives a good insight on how productivity of an organisation can be improved. Management controlled variables such as software tools, changing programming practices, available memory, computer speed etc. the model will be able to increase productivity by adjusting these variables and also by investment how will the productivity be further increased. Also software estimation technology provides the foundation for project planning .More of this is discussed in the next topic.

SOFTWARE ENGINEERING ECONOMICS AND PLANNING PROCESS A software project has to have clear objectives and definitions and milestones set realistically with estimates of time and cost to achieve them .Good set of cost and time estimates can provide realistic data for PERT charts , manpower schedules, work breakdown structure etc. Cost estimation is an important part of the planning process.
HAMNA BAIG SANA KHANI AYESHA SIDDIQUA BSE-2B( SOFTWARE ENGINEERING) BAHRIA UNIVERSITY(KARACHI CAMUPS)