In one discussion among colleagues I have heard that function point analysis is not used nowadays since it can go wrong for various reasons.
So WBS (work breakdown structure) is used commonly.
Is that true?
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Function Points and WBS are two different, but related items. Function Points is a unit of measurement that can be used to determine complexity and work effort, WBS (work breakdown structure) is an approach to define sub units to a project (problem).
SO, when starting a project with a given scope and set of expectations, you use a WBS to define the sub units of the project (to a degree that is useful for you), once you have well defined sub units, you can determine the work effort by assigning function points to each and multiplying velocity (# of function points per day that can be delivered- as an example).
Here are some useful links: