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cost estimation principle comparison table

Subject	have strategies	state	helps	recommend
cost estimation principle 1		divide and conquer	to make an estimate more accurate because you will be more likely to account for all the subsystems and activities if you under-estimate the time required for some subsystems or activities, this should be at least partly compensated for by over-estimates in other places	dividing the project up into individual subsystems, and then dividing each subsystem further into the activities that will be required to develop it, then making a series of detailed estimates for each individual activity, and summing the results to arrive at the grand total estimate for the project
cost estimation principle 2		include all activities when making estimates
cost estimation principle 3	base your estimates purely on the personal judgement of experts within your team use algorithmic models that have been developed in the software industry as a whole	base your estimates on past experience combined with what you can observe of the current project
cost estimation principle 4		be sure to account for differences when extrapolating from other projects
cost estimation principle 5		anticipate the worst case and plan for contingencies
cost estimation principle 6		combine multiple independent estimates
cost estimation principle 7		revise and refine estimates as work progresses

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