Heuristic risk assessment using cost factors

Risk management practices may improved by leveraging on existing knowledge and expertise during cost estimation activities through the use of cost factors to detect patterns of project risk. The technique is an extension of the Constructive Cost Model (Cocomo) which supports project planning by identifying, categorizing, quantifying, and prioritizing project risks. The method described is encapsulated in a tool called Expert Cocomo II, and is intended to be used in conjunction with other management techniques. The extended method also detects cost estimate input anomalies and provides risk control advice in addition to conventional Cocomo cost and schedule calculation.