Ruler for Effective Cost Management Practices in Agile Software Development Projects

Managing cost in any software development project become more challenging and sensitive these days. This is due to the complexity of the processes and the demand by the stakeholders that really requires high competent of project managers to manage the project cost effectively. Most of project managers agreed that managing cost effectively is very important things to note. Effective cost management practices determine the level of project success. Therefore, this paper discusses on effective cost management practices and develop a ruler for cost management practices in agile software development projects towards few variables such as customer involvement, changes of requirements, simplicity and others. The findings show that most of the project managers are practicing cost management process in agile software development project. However, the result shows the difference levels of practicing for effective cost management in agile software development projects due to lack of experiences, lack of knowledge, lack of automated tool and other. The differences can be seen thru the ruler that has been developed in this research. The ruler helps organization in determining the competent project managers for effectively manage the project cost and finally enhance the success of project.