What do you know about the effort estimation and how it is done?

Question

Accepted Answer

Effort estimation is the process of predicting the amount of time, resources, and cost required to complete a project or task.

Effort estimation is crucial for project planning and management.
It involves breaking down the project into smaller tasks and estimating the time and resources required for each task.
Various techniques can be used for effort estimation, such as expert judgment, historical data analysis, and parametric modeling.
Factors that can affect effort estimation include project complexity, team experience, and external dependencies.
Regular monitoring and adjustment of effort estimates is necessary throughout the project lifecycle.
Examples of effort estimation techniques include PERT (Program Evaluation and Review Technique) and COCOMO (Constructive Cost Model).

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