Which estimation approach is appropriate while waiting for responses from bidders?

The appropriate estimation approach while waiting for responses from bidders is to create an estimate based on function point analysis and test point analysis. This method leverages established metrics to assess the size and complexity of the software under development. Function point analysis focuses on measuring the functionality provided to the user based on the requirements, while test point analysis evaluates the number of test cases needed based on the functional requirements established.

Utilizing these techniques allows for a structured and systematic approach to estimation, which can be particularly useful in producing accurate project estimations even before final bids from vendors are received. Since the output of function point and test point analyses relies on technical criteria rather than on specific bidder input or prior customer feedback, it provides a more stable basis for estimating than approaches that might depend on external responses or subjective evaluations.