What is software project estimation?
A Software Project Estimation helps define the resources (people and tools) youâll need to build your project by listing specific tasks, how many hours itâll take, and how much itâll cost (roughly).
How do you estimate software development?
First, youâll need to write a Product Requirements Document, which defines your project goals and the problems it solves for the end user. Once you have that document, youâll define foundational tasks like user log-in and password reset flows, and estimate how many developers and designers youâll need to complete the project, what kind of tools youâll need to build out the software platform, and how much itâll all cost.
How can we calculate the cost of software development?
There are two common ways to estimate a project by either breaking down the team or breaking down the project tasks. A team estimate is a top-down approach. For example, âWho will I have on my team, and for how long?â This is an estimation from an Agile perspective.
A task estimate is a bottom-up approach that comes more from the Waterfall School of Planning. Youâll outline the foundational tasks and user flows and estimate how many hours a developer and perhaps a designer will need to complete the tasks. Youâll list out all the foundational tasks, add up the hours youâll need, and multiply it by the hourly rate of the freelancers to get the total estimated hours.
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