So a vendor needs to control this before each sprint (stage of development during 1-2 week).ДЇixed price вЂ“ cost risks are up to 50% due to the incompleteness of some crucial but not so obvious requirements. Hence, a vendor cannot predict the max price corresponding with a final budget. What types of risks for himself does a vendor include in cost estimate of a project based on this type of documentation?Д¬osts of risks are not included, because T&M refers to the estimation of a small part of work just before this work should be done.

Options for further work under the project with this type of documentation.ДЇixed price (based on Max price which is calculated taking into account all the risks for a vendor) What is the probability that the initial cost estimate will be close to the final budget with this type of documentation? Level of completeness of this type of documentation? How much time is required from a client to participate in a process of requirementвЂ™s gathering with this type of documentation? The result of the cost estimation after creating this type of documentation

How much does it cost to write this type of documentation for a software project? Is it required to create this type of documentation before programming work will begin? Our experience proves that the most optimal start of your web/mobile startup is based on User Stories document followed by gathering of requirements up to Software Requirement Specification document during the development of software.Д¬omparison Table: Options For Cost Estimation and Further Work Under the Project (based on an example of 1000 hour projectвЂ™s budget) Types of documentationДЄ document that lists all needed features of a product in general termsДЄ document that describes all needed features of a product in more details than Scope of Work (It captures the 'who' will use softwareвЂ™s feature, 'what' exactly will be used and 'why')ДЄ document that describes all needed features of a product in as precise details as possible. You can find them in the comparison table below. There are three types of cost estimation based on three types of requirementsвЂ™ completeness. You may not know that it is just a minimum starting price. What type of price did you get from your potential vendor? A minimum starting price or the total fixed price? Get a clear answer! He may send you a good low price and you may think that this is the total fixed price. Are you a web/mobile or any other software startup Founder/CEO? You will be surprised when you compare the prices from various custom software development companies in your country (like the USA, Israel, the UK, and so on) or offshore.

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