How much will it cost?'' ''How long will it take?'' These questions ar
e notoriously difficult to answer accurately and early in software dev
elopment. Software metrics tackle this problem by assuming a statistic
al correlation between the size of a software project and the amount o
f effort typically required to realize it. To be useful in estimating
cost, a size metric must take into account the inherent complexity of
the system. Such metrics have been applied with varying degrees of suc
cess, but the nature of software development has been changing, and so
me of the assumptions behind the established cost-estimation technique
s are slowly being invalidated. The System Meter (SM) is a new softwar
e sizing approach based on the notion of system description. System de
scriptions encompass all kinds of software artifacts, from requirement
documents to final code. For each kind or level of artifacts, there i
s a corresponding flavor of SM. In our studies we used the first opera
tional flavor, the SM at the preliminary analysis level, or Pre-SM. In
contrast to the well-known Function Point (FP) metric, which is measu
rable after the more detailed but costly phase of domain analysis only
, the SM explicitly takes OO concepts into account. It also distinguis
hes between components to be developed and those to be reused, thus re
flecting the idea of incremental functionality. In this article we pre
sent results of a field study of 36 projects developed using object te
chnology. We measured both FP and the Pre-SM method in all 36 projects
and compared their correlation to the development effort.