Understanding need of flexible software development approach using “The Economic Model”

Software development approach (SDA) is imperative software Engineering. Many project fail because of inaccurate handling design approach or decision made early some time prove to be wrong later on. The most critical and crucial part of software development approach is when planning of design development is required in the early stage of the software life cycle where problem to be solved. Estimated, requirement by user is not completely understand and problem to be solved had not yet been completely revealed. In the early stage of software life cycle project manager are inefficient to estimate the effort, schedule, cost estimation and its development approach. This in turn, confuses the manager to bid effectively on software project and choose incorrect development approach. That will directly effect on productivity cycle and increase level of uncertainty. This becomes a strong cause of project failure. This paper demonstrates strength and weakness of available development approaches by utilize a Economic Model to measure the Level of handling uncertainties and its effect on productivity which will indicate the new approach of to bid effectively on software project.