by Hristina Efinska

When preparing for an IT project estimation, you need to take into consideration a lot of factors that will help you build a dedicated team for your specific project. Throughout the process of estimating your most significant IT project, you will realize that outsourcing is the best option for profitability by getting the same quality for a lower price. Moreover, IT outsourcing is a great way to find the appropriate employees who are trustworthy and who will help you build your brand.

If you are considering outsourcing an IT development team, one problem you are certainly facing at the beginning is how to prepare your idea for an exact estimation. This article will guide you through the process of preparing and conducting an IT project estimation for your business. Read carefully the step-by-step procedure below:

Define Your Vision

The first thing you will need to do is outline your idea. Illustrate your vision. What kind of problems have you recognized? What is the solution you are offering? Maybe you are rolling out a cutting-edge product. Or to put it broadly – you may have a general vision to change the world. What is your solution, and what does it do?

Whichever this is, it is essential to tell your software development company what this is and to share your way of thinking. 

Provide Accurate Brief

Your software development partners will need some basic information. It is the pitch description of your project, your needs, and your visioned path. Describe the performances of your IT Project in the most manageable formula – as well as your visioned workflow. 

Explain the Specifications

At this point, you need to start getting technical. But remember, there is no need to go very deep into the matter. Things are getting technical here, but there is no need to get too deep into the subject. Your job is to remain on the surface. You can be concise, but leave specifics to the software development team.

Set Collaboration Goals and Expectations

To put it simply, what do you want to accomplish and in what time?

Consider your business goals and the tangible objectives that have been bestowed. This differs from the goals concerning your cause. In this occurrence, you should also keep in mind whether your project fits your determined future concept.

These must be reasonable, in terms verified by both the developers’ team and your company. The best method to do this is by setting universally-agreed metrics. Grant specifics, such as website visits, click-through rates, check out rates, bounce rates. Sometimes goals are driven by impulses, such as trends or a competitor’s product. That, too, can be sufficient to help with your outline as well.

Scope Your IT Project 

We are going to contemplate and look ‘deep within’ for this one. That is because here is where the IT project will do some fundamental soul searching. The scale of the project, what is to be done, where will it feature, how will it feature, who will be involved – this all needs classification.

Here are some inquiries to kick-start the thinking process:

  • Is this a mobile application, or is it PC-based? 
  • Is it maybe an embedded system?
  • What functionalities will it have? For example: (CMS, built-in search engine, navigation)
  • Will it need a particular infrastructure?
  • What about the Data Security, how rigorous will it need to be?

Go over everything in details, leave no stone unturned.

Set Time Frames 

You must be aware that some projects take more time than others, primarily if you want them to be done right. The deadline has a direct influence on the project’s outcome, how it will be done, and the varieties of features you would like to incorporate in it.

As a rule of thumb, understanding that limited speed means limited quality is essential. This has more dramatic consequences when considering the budget too! But we will get to that in a second.

One thing is for sure: nothing ever takes five minutes, nor does it cost five dollars.

Communicate the State of the IT Project

As we stated earlier, depending on the design and circumstance, you may be building something from scratch. Make sure to let your new developers know the current growth of your project, as any actual information will surely be of some help. Maybe you have already created an entire, or half-finished model? In that case, let them know either way and make sure to share any essential information with them.

Most significant to note is that if you have created something like this already, albeit unsuccessfully, make sure to communicate this as well. Communicating outstanding issues that have occurred in the past is essential.

Get to Know Your Dedicated Team

Meet the crew! And make sure everyone follows you. Precise comprehension equals progress.

Your IT project should be built on excellent communication, succeeding expectations, and navigating among stakeholders. In projects as seasoned as those in IT development, make sure to avoid costly misunderstandings!

Have you communicated and established the parameters? Have you made sure they are understood to the finest detail by the development team?

Remember: to create – you must communicate. 

Estimate the Budget 

We would not like to lie to you. The budget is a big deal.

Do you know how much is your organization ready to spend? Keep this in consideration of your expectations.

Let us put it simply: the higher the budget, the broader the possibilities reach. Functionalities need time to be tested, whereas new features will also require development funding. Finances play a crucial role in the final quality. Bugs and glitches are best approached with room in the resources to deal with this problem.

Mock-ups & Wireframes 

Details are unquestionably helpful – as are the specifics. Sometimes a basic idea is a framework for perfection – make sure to bestow any introductory thoughts and plans with your development team. A reliable software house will provide professional, compact, and non-judgmental feedback to your project.

Make a Checklist

Think of this as a soothing reminder, preferably than a ‘make it or break it’ list. From our experience, it would be an astonishment if you had ready-made answers to all these points. The essential thing is to know what is to be understood and what there is to be asked. By doing so, it will assist you to recognize the competency of your next IT development team.

  1. Do you have a concept? Start with identifying a problem, solution on how to overcome that specific problem, and a concept of providing the solution.
  2. Be precise, but not too formal. 
  3. Explore your idea. Ask yourself lots of questions.  
  4. Have confidence. 
  5. Set parameters. What metrics will determine your success? 
  6. Be realistic. Time and money are substantial circumstances with substantial consequences. 
  7. Details. Share as many of them as you can. 
  8. Accomplish. Go for it, and be confident. 

As fundamental as these intents are, it is normal not to have answers to all of them. Just make sure to have them in mind. 

To discover more information about how to prepare for an IT project estimation for your business, you may need help from our experts. If that is the situation, please click here for a free consultation with our professionals.

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