Billions - Software Errors Cost U.S. Economy $59.5 Billion...

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Software Errors Cost U.S. Economy $59.5 Billion Annually: NIST Asse. .. http://www.nist.gov/public_affairs/releases/n02-10.htm 1 of 2 9/15/2005 12:10 PM Software Errors Cost U.S. Economy $59.5 Billion Annually NIST Assesses Technical Needs of Industry to Improve Software-Testing FOR IMMEDIATE RELEASE: June 28, 2002 Contacts: Michael Newman (301) 975-3025 NIST 2002-10 Software bugs, or errors, are so prevalent and so detrimental that they cost the U.S. economy an estimated $59.5 billion annually, or about 0.6 percent of the gross domestic product, according to a newly released study commissioned by the Department of Commerce's National Institute of Standards and Technology (NIST) . At the national level, over half of the costs are borne by software users and the remainder by software developers/vendors. The study also found that, although all errors cannot be removed, more than a third of these costs, or an estimated $22.2 billion, could be eliminated by an improved testing infrastructure that enables earlier and more effective identification and removal of software defects. These are the savings associated with finding an increased percentage (but not 100 percent) of errors closer to the development stages in which they are introduced. Currently, over half of all errors are not found until "downstream" in the development process or during post-sale software use. NIST funded the study, which was conducted by the Research Triangle Institute (RTI) in North Carolina, as part of a joint planning process with industry to help identify and assess technical needs that would improve software-testing capabilities. Findings of the 309-page report are intended to identify the infrastructure needs that NIST can meet through its research programs. "The impact of software errors is enormous because virtually every business in the United States now depends on software for the development, production, distribution, and after-sales support of products and services," said NIST Director Arden Bement. "Innovations in fields ranging from robotic manufacturing to nanotechnology and human genetics research have been enabled by low-cost computational and control capabilities supplied by computers and software." In 2000, total sales of software reached approximately $180 billion, supported by a large workforce
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This document was uploaded on 11/03/2011 for the course CSE 442 at SUNY Buffalo.

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Billions - Software Errors Cost U.S. Economy $59.5 Billion...

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