MEAT

Metrics Estimation Analysis and Teams

Abstract

This paper highlights the information I need for risk estimation, risk monitoring and risk management. This paper addresses the techniques, which can be utilized to define reliable estimation to complete projects by project manager. This paper also highlights the duties of project manager. Measurement enables us to assess the status of program and processes and determine whether it is in trouble or need any process improvement. Early detection of problems can be done with the help of good measurement program and as it also provides quantitative clarification of complex development issues. Metrics has the ability to identify and resolve critical risk issues before their occurrence.

Metrics Estimation Analysis and Teams

Introduction

The measurement of metrics are a significant part of a project, they play an important part in the certain projects. Metrics measurement assists in the identification of the evaluation of the project effectively. If the measurement of the metrics is not done then it results in an unfinished project. Even though, there are numerous measure that are inappropriate for the projects as they led to the increasing of the levels of difficulty and making analysis of the project. Estimation of the project is very significant because of several reasons i.e. project estimation assist in the comparison of the project cost with the expected benefits, it assists in determining the choices amongst the functional and technical options. Through the estimation of the cost, the discipline identification is made which is a vital factor for the particular project's success. This technique assists in the improvement of the development of software; furthermore, the assets from the project sponsor can be provided the protection for ensuring a victorious project delivery. As the manager if individual and groups project, this paper will inform project manager about the essential requirements necessary in order to coordinate developmental activities.

Important Metrics & Measurements

There are various measurements and metrics through which the effectiveness and efficiency of the project can be determined. Some of the significant measurements and metrics are discussed below:

Cost

One of the most significant metric is cost which must be carefully analyzed. It plays a very important part in the project success. The funds which are necessary by developing and delivering the software solution come under the cost. For the estimation of the cost, there is a need to multiply the effort hours with the hourly rate. Numerous additional costs are involved in the project like installation of the software/hardware, support and maintenance. The costs of the documentation which is supposed to be excluded or included in the project is also required and is also a significant measure for the development of the project.

Accuracy

Accuracy in accounting is a critical time for the evaluation of the estimates accuracy and the establishment of the guideline needed in the organization. The scope of the activities which are to be included ought to be agreed upon at the beginning of the life cycle of the project. It is required for the manager of the project to initiate a work break ...