Globalisation and advances in information technology, as motivating as they may be, nevertheless present challenges to the economies and enterprises that have become reliant on these two factors. How would you characterise two of the problems that have arisen as a direct result of this new context?

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Software cost estimation

In software engineering, cost estimation defines the calculation of the amount spent on software development and testing. This includes maintenance, managing, buying equipment, user requirement reviews, software, training, and servers. Many methods are developed to estimate the software project cost. Software cost estimation has a major impact on planning and managing a project. The software cost estimation has three estimates like project duration(time), effort(person-month), and cost(dollars).