Software Estimation Is Hard. Do It Anyway.

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Highlights from July 26, 2021

  • It’s well-established that estimating software projects is hard. One study by HBR found that one in six IT projects had cost overruns of over 200% and were late by almost 70%. Another study by McKinsey found that IT projects are on average 45% over budget and 7% over schedule. They found large software projects were particularly bad: software projects with budgets over $15M went over budget by an overage of 66% and had schedule overruns averaging 33%.