Predicting the effort, duration and cost required to develop and maintain a
software system is crucial in IT project management. Although an accurate
estimation is invaluable for the success of an IT development project, it often
proves difficult to attain. This paper presents an empirical evaluation of four
parametric software estimation models, namely COCOMO II, SEER-SEM, SLIM, and
TruePlanning, in terms of their project effort and duration prediction accuracy.
Using real project data from 51 software development projects, we evaluated the
capabilities of the models by comparing the predictions with the actual effort and
duration values. The study showed that the estimation capabilities of the models
investigated are on a par in accuracy, while there is still significant room for
improvement in order to better address the prediction challenges faced in practice.