The term “Globalization” brought many challenges with itself in the field of software development. The challenge of accurate effort estimation in GSD is one among them. When talking about effort estimation, the discussion starts for effort estimation methods. There are a number of effort estimation methods available. Existing effort estimation methods used for co-located projects are might not enough capable to estimate effort for distributed projects. This is why; ratio of failure of GSD projects is high. It is important to calibrate existing methods or invent new with respect to GSD environment. This thesis is an attempt to explore the accuracy of effort estimation methods for distributed projects. For this purpose, the authors selected three estimation approaches: COCOMO II, SLIM and ISBSG. COCOMO II and SLIM are two well known effort estimation methods, whereas, ISBSG is used to check the trend of a project depending upon its (ISBSG’s) repository. The selection of the methods and approaches was based on their popularity and advantages over other methods/approaches. Two finished projects from two different organizations were selected and analyzed as case studies. The results indicated that effort estimation with COCOMO II deviated 15.97 % for project A and 9.71% for project B. Whereas, SLIM showed the deviation of 4.17% for project A and 10.86 % for project B. Thus, the authors concluded that both methods underestimated the effort in the studied cases. Furthermore, factors that might cause deviation are discussed and several solutions are recommended. Particularly, the authors state that existing effort estimation methods can be used for GSD projects but they need calibration by considering GSD factors to achieve accurate results. This calibration will help in process improvement of effort estimation.