Initiatives

Software Risk/Cost Estimation Working Group

The goal of the Software Risk/Cost Estimation Working Group (SR/CEWG) is to advance the state-of-the-art and practice of risk management and develop a body of knowledge for estimation. As part of this effort, it will advance, capture, and disseminate state-of-the-art and practice for Systems Engineering (SE) and software risk management. From this effort, it foresees the following benefits:

• Help define where money comes from to do risk management on programs
• Investigate real options theory to help understand risks, their buy-down, and calculate values (e.g., quantify how much to invest in modular architecture)
• Define risk management guide using risk valuation approaches

Also as part of this effort, it will develop a curriculum for training people on estimation and a Estimation Body of Knowledge (EBoK) that pulls knowledge from many disciplines to include: software, economics, finance, and management. From this effort, it foresees the following benefits:

• Grow human capital
• Disseminate best practice and EBoK
• Facilitate professional certifications
• Build on graduate SW Engineering curriculum
• Define types of competencies and skill sets
• Develop synergies with the Under Secretary of Defense for Acquisition, Technology and Logistics (USD(AT&L)) Software Acquisition Training and Education Working Group (SATEWG)