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Effort estimation predicts number of hours required, number of developers needed & project duration etc.
1. Expert Judgment: Senior developers estimate based on experience.
2. Analogous Estimation: Compare with similar past projects.
3. Bottom-Up Estimation: Break project into small tasks → estimate each → sum total.
4. Three-Point Estimation: Expected Time = (Optimistic + 4 × Most Likely + Pessimistic) / 6
Cost Estimation Includes: