Justify the use of Earned Value Management (EVM) to control costs and monitor project progress, and hypothesis as to why it is not used more often. For example, what are some general rules of thumb for deciding whether or not a cost fluctuation, a schedule variation is positive or negative?

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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).