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Software development cost estimation process simplified

One of the most challenging things to do in custom software development is determining how long and how much amount it will take to deliver a new software product. But the question is, should it be so hard?

Software development cost estimation is inherently tricky, keeping the fact that “no projects are the same” in mind. Every product development is unique in what it sets out to achieve; it’s unique in the myriad of parameters that form its existence.

Another substantial factor in a custom software company is understanding cost and duration in making strategic business decisions. Whether you are a startup or an established enterprise, know that the timing, return on investment, and benefits you make can either make or break your software development.

Your software development project cost may vary from $10,000 – $200,000 depending on the certain other factors that we are going to talk about.

Not just the cost range, there are certainly hundred more questions to answer when talking about custom software development cost estimation. This is probably why we are here to help you explore the agile software development cost estimation process.

Let’s start with the basics and then talk about specific requirements to estimate the average cost of software development.

Factors that affect software costing

To calculate the cost of software development; understand that it majorly depends on three significant factors:

1. Type of software project 

From a high level, the typical custom software development arrangements tend to break down into the following details:

  • New software development 
  • Software modification
  • Software integration
  • Web development

2. Size of the project

The next critical factor is to determine the size of a project. The project size is typically correlated to the features and functionalities of the product you are building. This means the more complex your project is, the bigger the size of your project will be.

  • Small-sized development – Approximate Software development cost range – $10,000 – $50,000 based on modifications
  • Medium-sized development – Approximate software development cost range – $30,000 – $100,000
  • Large-sized development – Approximate software development cost range – $80,000 – $125,000 as per integrations
  • Enterprise-sized development – Approximate software development cost range – $100,000 – $200,000 based on the type of software developed

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