Assessing and Interpreting The Accuracy of Effort Estimates
The most common measure of the average estimation accuracy is the MMRE (Mean Magnitude of Relative Error), where the MRE of each estimate is defined as:
MRE =
This measure has been criticized and there are several alternative measures, such as more symmetric measures, Weighted Mean of Quartiles of relative errors (WMQ) and Mean Variation from Estimate (MVFE).
A high estimation error cannot automatically be interpreted as an indicator of low estimation ability. Alternative, competing or complementing, reasons include low cost control of project, high complexity of development work, and more delivered functionality than originally estimated. A framework for improved use and interpretation of estimation error measurement is included in.
Read more about this topic: Software Development Effort Estimation
Famous quotes containing the words interpreting, accuracy, effort and/or estimates:
“Drawing is a struggle between nature and the artist, in which the better the artist understands the intentions of nature, the more easily he will triumph over it. For him it is not a question of copying, but of interpreting in a simpler and more luminous language.”
—Charles Baudelaire (1821–1867)
“U.S. international and security policy ... has as its primary goal the preservation of what we might call “the Fifth Freedom,” understood crudely but with a fair degree of accuracy as the freedom to rob, to exploit and to dominate, to undertake any course of action to ensure that existing privilege is protected and advanced.”
—Noam Chomsky (b. 1928)
“Social questions are too sectional, too topical, too temporal to move a man to the mighty effort which is needed to produce great poetry. Prison reform may nerve Charles Reade to produce an effective and businesslike prose melodrama; but it could never produce Hamlet, Faust, or Peer Gynt.”
—George Bernard Shaw (1856–1950)
“And, by the way, who estimates the value of the crop which nature yields in the still wilder fields unimproved by man? The crop of English hay is carefully weighed, the moisture calculated, the silicates and the potash; but in all dells and pond-holes in the woods and pastures and swamps grows a rich and various crop only unreaped by man.”
—Henry David Thoreau (1817–1862)