Custom software development is one of the most challenging and complicated tasks. But it’s fun if you do it the right way.
Software development is the amalgamation of several complex tasks.
Keeping this in mind, whenever a software developer is asked, “How much will this software cost me?” It’s only their professionalism that keeps them from replying harshly.
But why should one be so bothered by this question?
Let’s step into the shoes of a software developer for a moment and try to find the exact reason!
For that matter, think of yourself as responsible for arranging snacks and drinks for a party with your friends.
- There will be around four people, but the arrival of more friends is also expected.
- The party will last about 3 to 4 hours, but still, it’s not final.
- Everyone has different preferences for snacks and drinks.
- You also have to be careful not to buy too many items that go to waste.
- You have to ensure you don’t buy anything of substandard quality.
Is it possible for you to come up with an accurate estimate before doing all the shopping?
We thought the same!
Getting a reasonable estimate for a software development project is problematic because it needs to be simplified.
- You need to know how many people will use it and what they will do with it, too.
- You also need to expect additional users and features of the potential software.
- You need to know about different preferences of usability.
- You cannot add too many features on your own and cannot keep it below the tentative requirement either.
If you’re developing a game, you need to know how many levels the game will have. If it’s a web application development for people with disabilities, you’ll need to ensure that it is easy to use and works on all operating systems. There are so many things involved in software development projects!
But there is another perspective and strategy, which is what this is all about.
Knowing about them is not only possible but also a practical approach to professionally dealing with a software development company.
This article will teach you the basics of estimating a software development project.
There are three main areas on which you should focus when doing the software development project cost estimation:
1) The size and scope of your potential software;
2) Development timeframes;
3) Project management costs.
We’ll discuss each one below with examples to help illustrate our points.
1. The Size and Scope of Your Potential Software
This is an essential element for estimating since the size of your project will determine how much work needs to be done. The larger or more complex a software development project, the more time the development team will take to complete that task.
If you’re planning on creating a complicated piece of software, please make sure you budget for extra development team members to help speed up the development process and the project training you need. Considering this area is essential since small mistakes can cost much more than you initially thought.
Similarly, if there is even a slight change in the scope of the project – the purpose for which the software is being designed, then the costs can vary drastically. This can add up quickly, so plan for the worst-case scenario when estimating a software development project.
For example, you initially plan to get a software program developed for your company’s HR management processes, including employees’ attendance management, salaries, benefits, etc. You finalized everything regarding it with the software development company.
But then you know that your competitors use only one HRM and account management software.
Now you want your software to account for the accounts management as well. In such cases, the total estimate and the timeframe will also change. This brings us to the second area to be focused on – Development Timeframes.
2. Development Timeframes
This is another essential factor to consider when estimating software development projects since it determines how long you’ll have a project open with your chosen software development company.
For example, if your project is estimated to take three weeks and five months because of underestimating, that means tremendous additional costs.
It would help if you also thought about any holidays, training days, and other activities that can affect the amount of work software Development Projects can get and how much these days can cost you.
When estimating the project time, please ensure that it includes everything like coding, testing, debugging, and deployment.
Another important factor contributing to the total time for a software development project is the customer’s existing knowledge of the product or service they need to develop.
In other words, if a customer has a lot of experience with a particular product, it will take less time to finish their project because experts know what works and what doesn’t.
The customer’s knowledge of what they already have is key to understanding how long their project will take.
Other factors that contribute to the total timeframe are the software developer’s experience level, availability of resources, and impact on existing systems.
It is also essential to know if a project can be divided into smaller chunks for faster delivery or if it must be developed as one entire product.
For example, developing an app may take more time than creating a mobile website because app development involves more complexity.
An excellent way to estimate the total time for any project is by creating an initial timeline and then adding buffers in case something goes wrong or delays occur.
Considering all possible factors that add up the timeframe before beginning development will help avoid running behind schedule, which can result in costly fines.
For example, if a project takes less time than expected and can move up in priority on a roadmap or vice versa.
Accurately providing an estimated timeframe will allow customers or business owners to know if they can afford this product within their budget.
3. Project Management Costs
One of the few ways to estimate the cost incurred when building software is by determining the project management costs.
In this case, the estimation you arrive at will depend on whether you are using the waterfall or an Agile approach.
When using a waterfall approach, you can expect it to take more time to come up with an estimate because many activities are planned out before anyone starts.
On the other hand, an agile approach follows a more flexible approach where requirements will change, which means that estimates are only accurate much later in the project.
The speed at which the project is moved forward also affects how accurate your estimates are.
If you want an estimate that will be more accurate, it may take longer to complete, but there won’t be as many changes later.
This allows for fewer iterations and, ultimately, less money on making changes.
Final Thoughts
The total time for any software development project will depend on many factors. Still, the two most important are knowledge about the product or service and how much management is required.
If you want to save money in the long run, consider whether your budget can accommodate an agile approach that allows flexibility with requirements as they arise.
It may require more upfront work, but this will ultimately lead to fewer changes down the line – which means less wasted resources and less spending overall.
