Accuracy of Estimating Project Costs and Benefits: An Overview of Research in Information Systems

Estimating information systems project costs and benefits is a challenging endeavor and is notoriously prone to uncertainties and errors. The purpose of this study is to review research publications on quantitative estimating accuracy of costs and benefits (financial returns). The importance of the problem is due to the wide use of cost and benefits evaluations in making critical business decisions. The study reveals existing quantitative levels of estimating costs and benefits accuracy in the context of the information systems implementations.