Portfolio management of software development projects using COCOMO II

Software development projects are subject to external and internal risks that cause delays, budget overrun and poor quality. Portfolio management can be used to alleviate this problem, as it pools resources together and allows for resource sharing among projects. Consequently, projects are more likely to succeed. However, portfolio management using only deadlines and the number of employees to improve probability of success is still confined. This paper proposes integrating portfolio management with COCOMO II that offers more management flexibility. Managers can adjust other resources, such as tools, staff capability, communication support, etc. to improve the project's success. The proposed method can also be applied despite limited historical data and expert judgment. In addition, this paper introduces time constraints into portfolio management without assuming unrealistic linearity between effort and time.