With measurement errors taken into account in the simultaneous fitting of the measurement and the new regression equations, estimation of is unbiased; hence it reflects the true relationship much better. Certainly, introducing latent factors in models is not a free lunch..
A function point is a unit of measurement to express the amount of business functionality an information system (as a product) provides to a user. Function points measure software size. The cost (in dollars or hours) of a single unit is calculated from past projects. As of 2013, there are several recognized standards and/or public specifications for sizing software based on Function Point. 1. ISO Standards. 1  COSMIC: ISO/IEC 19761:2011 Software engineering.
The functional design phase provides a translation between the requirements analysis and the detail design. In a software development project, the functional design focuses on the general definition of the whole system or application. The FDS specifies the logical flow of the system, its inputs and outputs, its data organization, the applicable business and processing rules, and how it should appear to users.