Most estimates are made before the start of the project (usually very little is known at this time). The company makes a guess which becomes a guarantee for the client. But how to make an accurate guess?
First of all, the accuracy depends on your experience in similar projects. In other cases you may be taking a risk. Overestimating may result in sponsors balking and rejecting your project. Underestimating puts you under the risk of running out of money!
However, DevCom knows the solution. Why don’t you give a small try before sending senseless numbers to your client? Provide an approximate estimate for a small part of the project and then – provide an accurate estimate for the whole development. Isn’t that simple?
Of course, it works if you have complex software projects. In such case it would prevent you from awkward situations and problems which may emerge after providing risky estimate.
Think globally, use different approaches and improve your business with DevCom!