Performance evaluation of general and company specific models in software development effort estimation
Article Abstract:
The use of company specific models in providing effort and cost estimates for various software applications has been shown to generate convincing results. An estimation analysis conducted on a European Space Agency database involving 108 software development projects revealed that an efficient cost estimation model must embody a limited number of production factors. Only those factors that create a substantial impact on productivity must be integrated in a cost estimation models, particularly language, software reliability, application category, modern programming practices and main storage constraint. These results imply that companies which are seeking to improve their ability in providing cost estimates for software development projects must develop their own cost estimation models to generate accurate results.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1999
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Variance vs. standard deviation: variability reduction through operations reversal
Article Abstract:
Hau L. Lee and Christopher S. Tang proposed a model to study a two-stage supply chain operating as a pull system, where two operations, A and B, may be conducted in any order. Operation A introduces 'a' features while operation B introduces independently 'b' features that lead to 'ab' variations of final product. A brief analysis is made of the problem of size and variability of demand and that of equivalent objectives, both of which affect insights derived from Lee et al's research. It will be shown that the reliance on the mathematical term mu - sigma 2 disappears and a number of potentially non-intuitive predictions of their analysis would be eliminated when the sum of standard deviations is minimized rather then the sum of variances.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1999
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Real options and product life cycles
Article Abstract:
A study on flexibility in production plant operations formulated a model of real option valuation which explicitly integrates a stochastic product life cycle portrayed by a regime switching procedure. The model was then used to value the real option to alter a project's capacity. It was shown that option values in line with a product life cycle differ markedly compared to those from a standard model that makes simplifying assumptions about the demand process. It was demonstrated that a standard method which ignores the product life cycle can undervalue the contraction option and lead to flawed capital investment decisions. This result has significant managerial implications and underscores the need for flexible valuation techniques.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1999
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