Towards a Value-Based Approach in Software Engineering

The number of companies producing software has grown constantly, and it seems that we need software more and more everyday. Lately, several authors have discussed about the importance of cost efficiency and value creation in software development as well in software process and product improvement (SPI). It also seems that several companies have noticed that competition is increasing and cost-efficient companies have perhaps more competitive advantage in global markets than ever. This study discusses about the concepts, principles and practical methods of economic-driven software engineering and outlines us to understand better the content of value-based approach. This is done in part by presenting a conceptual analysis of the economic-driven view of software development including cost estimation and cost accounting and in part by discussing the costefficiency and value characteristics of software processes, products and their improvement. As a summary this study proposes to use value-based approach to find solutions for cost efficiency related challenges. As well it encourages both technical and economical sciences to work together when creating meaningful and practical solutions for our everyday use. Key-Words: software engineering, value-based approach, estimation, cost, worth, value