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TECHNOLOGY

How To Easily Estimate Software Development Project Cost?

The most sought-out question while hiring a company for custom software development is – What will be the cost? This is a tough one, and the most straightforward answer is – It depends.

Custom software is tailored made as per the requirements of a company. They must be scalable, flexible, and designed for a more personalized experience. Since one size does not fit all, all the particular needs of a company are considered while developing custom software.

But why is estimation necessary?

There are critical reasons for software costing estimation. These include:
An estimate allows defining the scope of work, time, and the efforts required
It helps to understand the factors in a project responsible for creating cost and prioritizing tasks effectively
Provides a clear picture to both the development team and the client and help them to reach a standard agreement beneficial for both

The average cost of software development from Bespoke software development company

While going for software development for mobile or web applications, they can be roughly divided into three basic categories depending on their complexity level:

Basic Simple Software – They can be developed fast, but they have a lower level of functionality, with a simple feature set. They don’t process a large amount of data, and usually, it takes around 500 – 700 hours to develop this type of app.
Medium complex apps – These bear more complex features, including payments, integration, real-time management, analytics solution, etc. They require around 700 – 1200 hours of work.
Complex Applications – They have complex architecture and security measures, with multiple integrations, and are compatible with various hardware. The approximate time required for this app is around 1200 or more hours.

Factor affecting Software Development Cost

In addition to the complexity of the project, many factors govern software development costs. These include:

Platform – A software development price quotes vary according to the platform required to be operated, as each platform has its specifications. For example, Android is one of the most in-demand platforms, and while choosing this, the scalability accelerates.

Similarly, when an app is required to compete with other popular apps, it must be developed for all major platforms like Android, iOS, Windows, etc. The result will be a higher development cost.

Project Scope – A significant part of the development cost also depends on the scope of a project. It may require several stages like preparation, prototyping, design, development, testing, maintenance, and support.
After defining the scope, the project development starts. Custom software development company in the U.K. begins work with wireframing and extends it to create the design and other visual components.

Integration with other systems and migration of existing data

At times software is required to be integrated with other third-party systems. This will lead to a high cost as the complexity of integration with other systems can be a big issue.

Usually, there is some amount of data migration involved in custom software development. If the company requires to move existing data into the new system, the project’s total cost will increase.

Quality assurance

Ensuring the quality of the developed app is a critical part. A Custom software development company in the U.K. applies thorough testing methods during each stage of development, ensuring that bugs do not affect the quality of the software.

Testing at various stages of development is costly and generally includes:

Usability Testing
Compatibility Testing
Interface Testing
Service Testing
Low-level Testing
Performance Testing
Operational Testing
Security Testing, etc.

Development

It is good to know that there are two web development types: front-end and back-end. Front-end, also known as client site, is what the user sees and interacts with. Back-end or server-side is like an engine of the software.

The development of iOS applications requires around 20% less time compared to Android. This is because there is more needed to run on the Android platform. A lot of support is required with various versions of this O.S. and different screen resolutions.

Complexity of design

While considering cost estimation, one of the most important factors is the complexity and the required customization of the design. The cost of designing constitutes a significant part of the total budget of the software development process.

In-house team vs outsourcing

The selection between in-house development or outsourcing has a significant effect on software development costs. Outsourcing to third parties like Bespoke software development companies bears a low price and typically reduces the development cost, as no company resources are utilized. Moreover, the in-house team may be busy in other essential courses, and distracting them can be costly for a company.

Conclusion

Budget is a variant when considered to software development cost estimation. Estimation depends on many factors, as we have already discussed. It is good to include the essential features as the budget permits and add all the other remaining elements in the next release.

 

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