Optimizing financial budget for software implementation based on the development effort and cost function

In every software development project, managers face the problem of efficiently and effectively allocating scare resources such as financial budget to meet organizational needs. This study considers the problem of optimal allocation of the financial budget to a software implementation. Boehm's and Putnam's models are used to formulate the relation functions of the development effort and development cost in the paper. The optimal model for the problem of minimizing the total development effort of the system and the one for the problem of minimizing the greatest development effort in each module are proposed, respectively. At same time, some simple and fast solutions to handle them are also proposed in the paper. The presented approach extends previous works by expanding the applying scope of models.