Bell, Gary A. with J.O. Jenkins, "A Proposed Project Management Cost Modeling Taxonomy", 1996
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On inspection of the cost estimation problem it was realised that there are two equally important areas of concern which are; cost explanation, and cost accuracy. A survey of previous cost models applied within the software engineering discipline suggest that there are three distinctive groups which are labelled: The Reductionism Group; The Dynamic Group; The Systemic and Dynamics Group. Key characteristics and archetype models associated with each cost modelling group are briefly outlined. It will be shown that forecast from the reductionism and dynamics cost modelling groups are inaccurate, and their explanations of projects cost are poor. Therefore, alternative mathematical techniques need to be researched. Systems dynamics has been selected, because it focuses on explanation which is seen as a strength. The aim of this research is to develop a negotiation model that explains software project costs.