Many software projects have gotten discovered missed budget and deadlines as the important criteria for the project failure. The projects attribute lack of preparing of resources, plan, and cost as the reason for its failure. The significant reasons for unsuccessful projects had been recognized as the lack of planning, bad estimating, long and impractical time scales, inadequate time and cost management.

It is extremely hard to calculate the cost of software development. Most of the issues that cause problems for the development effort alone are dependable for the problem found in calculating that effort. One of the initial methods in any estimation is to understand the system to be approximated. Software, on the other hand, is intangible, invisible, and intractable.

Software estimation model updated to organization’s experience is very important to efficient project planning, performance, checking, and management. Better and constant estimations will assist plan, measure, and plan enhancements to numerous procedures associated with growth and development of software products and performance of projects. It is essential to decide on the correct estimation method to suite requirement and professions competent in these techniques.

Most critical determinants are advancing preparing and estimation. As being the success of the software project mostly is determined by efficient estimation of project efforts, time, and cost. Estimation can be useful for setting practical goals for performing a project.

The precise prediction of software development costs is an essential problem to create the excellent management decisions and effectively identifying the amount of time and effort a project necessary for each project manager and system analysts and programmers. With no sensibly precise cost estimation capability, project managers will not be able to figure out how much time and effort cost the project should take knowing that means the software portion of the project no longer has enough control from the beginning.

QSM SLIM Suite offers the ideal available estimation tools for estimating software development cost, time, and effort required to meet software requirements; project management control; and software metrics to benchmark an organization’s project overall performance towards industry requirements.s