Delphi Cost Estimation Technique in Software Engineering

The Delphi cost estimation technique is a structured approach used to estimate the costs and resources required for software projects. Developed in the 1950s by the RAND Corporation, the Delphi method involves a panel of experts who provide estimates and feedback iteratively. This technique is widely recognized for its ability to generate reliable cost estimates by harnessing the collective knowledge and experience of industry experts. The process typically involves multiple rounds of surveys where experts revise their estimates based on feedback from other panel members. In this article, we will explore the Delphi cost estimation technique in detail, including its methodology, advantages, limitations, and applications in software engineering. We will also compare it with other estimation techniques and discuss best practices for implementing the Delphi method effectively in software projects. By understanding and applying the Delphi technique, project managers and software engineers can enhance their ability to predict costs accurately and manage project budgets more effectively.