The document discusses the evolution of software economics and cost estimation models over three generations:
1) Conventional (1960s-1970s) used custom tools/processes and languages with underachieved goals
2) Transition (1980s-1990s) used more repeatable processes/tools and higher languages with some commercial products
3) Modern practices (2000-present) use managed processes, integrated environments and mostly commercial products.
It also examines debates on cost estimation, noting COCOMO is well-documented but data is inconsistent. A good estimate is based on a credible model, relevant experience, and well-defined risks.