What is CFP?
COSMIC Function Points
CFP stands for COSMIC Function Points - it is the modern ISO standard of software functional size measurement. It is an independent measure of software size from the users perspective. It is a refinement of the original function point concept that suits most software types and all methodologies of delivering it, including Agile.
For more information on COSMIC Function Points,
What about Story Points?
Story points are a team-centric indication of effort/complexity to develop a piece of functionality. They are useful as an aid to communication amongst the members of an individual development team. Story points are not suited to measuring at a project level or cross teams, that's where CFP excel. Unlike story points, CFP are suitable for measuring functionality at a project/programme/department level.
We advise that you use both as you become familiar with CFP as follows: use story points within a team, for everything else use CFP. Over time a team may abandon story points and just use CFP.
What about IFPUG Function Points and Simple Function Points?
ScopeMaster performs a significant amount of the work to establish an IFPUG function point count (and by inference also a Simple Function Point count). ScopeMaster essentially performs the heavy lifting of the traditional FP sizing work.