Price evaluation of the IT project is one of the biggest challenges that companies face before starting the project. There are proven facts that many difficulties with cost estimating exist. Many projects fail or high risk occurs. Why that happens?
Wrong project scope
One of the most common mistake before starting the project is unspecified scope of the
project. Creating exact scope with a client is usually difficult but gathering specific
information about the project definitely may help in terms of establishing costs and resources.
If we skip the process, our project may create necessity of changing parts of the project in
the middle of development process, which usually is causing higher costs and project delay.
Task management
Proper task assignment is a challenge for a Project Manager as well as project team.
Precise task delivery estimation is very important. It is recommended to create step by step plan.
Doing that we may avoid unplanned smaller tasks that will cause delays which again could
cause higher costs and project delay.
Too optimistic evaluation
In order to estimate project properly you need experience. It is not recommended to
assume that specific task is very easy and it will not take a lot of time to complete.
There are certain things you may overlook:
  • current software version
  • lack of available resources both human and equipment
  • change requests
  • Wrong risk management
    Almost every IT projectface unexpected problems. Managers need to ensure that they have
    emergency resources. It is important to adjust amount of resources based on how big is your
    development team and how big is the project.
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