Why is project estimation important?

Why is project estimation important?
FAQ § Reading time: ~2 minutes
At Crypton Studio, providing accurate estimates is a crucial step in ensuring successful project execution.  Approach we follow for precise project evaluation: Our estimating process begins when we receive detailed documentation from the client and have agreed upon the project's borders and scope. We believe in complete understanding before commencing the estimation, which is meticulously presented to the client.  1. Preliminary Software Evaluation (PSE): Before entering into a contract, we offer our clients a Preliminary Estimate, provided free of charge . This is prepared by our Product Sales Managers (PSM) or Business Analysts (BA), along with the necessary technical experts. The PSE involves Tech Leads for Design, Frontend, Backend departments, and Solidity developers who contribute to the estimate. Check out our guide to a successful blockchain project 2. Refinement and Interaction: During the evaluation process, we might seek additional information from the client to further refine the estimate. The PSM communicates with the client and addresses any queries to ensure a comprehensive evaluation. 3. Breakdown of Work Units: The resulting document from the estimate provides a detailed table with a range of labor and cost or fixed values. Each row represents a specific unit of work, such as Business Analytics, Design, Frontend development, Backend development, Mobile development, Smart Contracts, DevOps, Quality Assurance, and Project Management. 4. Validation and Finalization: The hours required for each work unit are calculated based on standard rates, and the estimate is reviewed for accuracy and compliance with the project's borders and scope. Once validated by the PSM and SM, it becomes the reference document for the estimate. 5. Presentation and Customer Engagement: The presentation with estimates marks a significant milestone in our collaboration with the client. It is a pivotal stage where we discuss the project details and mutually determine the best course of action. The presentation is conducted online and shared with the client afterward, ensuring transparency and clear communication. The offer's validity period is typically set at 30 days. 6. Decision and Execution: Following the presentation, we have the opportunity to proceed with the project development if the client approves the estimate. Alternatively, we can offer the Terms of Reference, providing flexibility to our clients. Contact us We believe that a well-executed estimation process sets the foundation for successful project delivery.  Our dedication to delivering accurate and transparent estimates showcases our commitment to providing exceptional blockchain development solutions. Contact us and we'll do a free estimate on your project.


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