We evaluate projects every day. Customers want to get the most accurate estimation of their projects by terms and cost, in order to calculate budget, maybe to compare with the estimation of another company and choose the most appropriate option.
Let’s figure out what affects the accuracy of the IT project’s estimation:
- There are typical tasks that our engineers have already done before. It’s not difficult to estimate them. But there are also non-standard tasks, where you need a creative and non-standard approach to the solution (for example, where you need to combine several standard solutions and create your own). It’s not always known how long this will take and what problems may arise during the development.
- Customer requirements. The accuracy of evaluation depends on the quality of project requirements provided by the customer. In some projects the initial requirements can be changed or the customer could forget something to mention or he had new wish-list after the start of the project. In such cases, we offer to work on the Time & Material model of cooperation.
- Qualification of a developer or business analyst estimating the project.
How do we solve these problems in project estimations:
- Solution for the first and most important task — we offer several models of cooperation, depending on the specific project requirements:
- Time & Material is used in the case when it is impossible to determine the full scope of work or the deadlines for their implementation before the start of the project. The client pays for the actually realized tasks within the project in accordance with the time spent.
- Fixed Price is used in projects where all stages of work, results, deadlines and costs are determined in advance. This approach allows reducing project risks due to a more accurate assessment of requirements. It guarantees predictability of costs and schedule.
- Dedicated Resources is used when our client needs a particular developer or a team of developers to strengthen his team. In this case, the customer is responsible for ensuring the workload of staff for the hours specified in the statement of work as the team is not involved in performing third-party projects and tasks.
2. To provide more accurate estimation, our specialists try to clarify any unclear moments, actively negotiate with the customer so as not to lose any details. Algorithm of estimating:
- Firstly, decomposition is made. Project is divided into tasks / modules that need to be implemented.
- Then the number of hours that developer needs for implementation is indicated for each task, with a detailed description of reasons for why so many hours are required.
- Of course, there are risks in each project (for example, changing requirements after the project start, replacement of the developer, freezing the project, etc.), that are also included in project evaluation.
The cost of the project depends directly on time and resources used.
3. The decision on who will estimate the project is taken situationally:
- Development of projects from scratch most often need BA and engineers to work in tandem (BA fill the decomposition, engineers— the number of required hours + indicate why this or that task takes so much time).
- Bug-fix or refinement of the functionality needs estimation of a specific developer who will be involved in this project, etc.
If you have a project idea, we can evaluate it, of course for free. With our estimation you will find out how much money and time you need to make your dream come true.
Have a great day and plan your time!