Techniques for reliably estimating development efforts are a fundamental
requirement for a wide-scale dissemination of ontologies in business contexts.
In this report we account for the similarities and differences between
software and ontology engineering in order to establish the appropriateness of
applying software cost models to ontologies. We present a parametric approach
to cost estimation for ontology development – ONTOCOM – and analyze various
cost factors implied in the ontology engineering process.