Krista White has published "Calculating All that Jazz: Accurately Predicting Digital Storage Needs Utilizing Digitization Parameters for Analog Audio and Still Image Files" in Library Resources & Technical Services.
Here's an excerpt:
Much has been written about digitization projects over the last two decades; digital storage has been highlighted as a central feature of any digitization project, especially the need to purchase additional storage mechanisms to house digitized collections. What is missing from the library science literature is a method for reliably calculating digital storage needs on the basis of parameters for digitizing analog materials such as documents, photographs, and sound recordings in older formats.