Smart stakeholders know that a good product cannot be cheap. However, there is always a possibility to cut the unnecessary spending down. All you need is the proper management of the budget and a short checklist to keep everything on track. We have gathered and structured a list of issues you should tackle before entering upon a new project.
In order to form a budget of a project, you first need to define the following: • What is the main focus and the core of the project? Do you understand what value it will bring to consumers of your product?
• Do you have a requirements list? Is it clear enough?
• What complexity does your requirements list bring to the project you want to implement?
• What are the terms of the project implementation? (keep in mind, that the faster the project needs to be done the more it will cost)
• What is the expected load the project should withstand and what kind of support is therefore required?
• Is the contractor ready to implement the project within the deadline and the budget?
• What are the chances that you will exceed the budget? How can you avoid this?
* Come up with a plan B for the critical points of your project. In case you don’t have one yet, think about it and shape it up.
If you don’t have the answers to the questions above, consider contacting the expert for a qualified guidance.
Now you need to figure out what kind of team you need:
• Which specialists should it comprise of?
• What level of expertise must they possess?
• Should it be an in-house or an outsource team? Why?
• Do you have a ready team who can implement the project? Is there any person, who can build such a team out the best fitting people? The Project can only be done provided the team is well-organised. Even the star-performing yet not organised developers won’t be able to succeed.
There are two possible solutions:
• Get a ready-made team;
• Assemble a custom team for the project.
The more precisely the team is picked, the cheaper the work will be in the long run. Therefore, it is crucial to trust the expertise of your contractor (e.g. do not cut back on the expertise, otherwise you’ll pay more at the end).
There is a rule of three sprints to follow for a team that has just been created for a project. It implies that the team should provide above 50 % of the stipulated plan over the first sprint, with further advancement over each next sprint, raising up to 100% for the third. In case your team doesn’t show the expected results within the first three sprints that is an alert for you to change something. A previously formed team should start from about 70% for the first sprint. One sprint usually lasts for two weeks, however it varies depending on the project.
The two most important checkpoints are:
• Plan the implementation of project tasks within the team;
• Monitor if the tasks meet the deadlines.
Additional tips from Krusche Сompany team:
• Pick a helpful software to manage the project (e.g. Confluence, Jira Tempo Plugin);
• If going outsource, try to find a team with successful cases, similar to your project;
• When making any decision, always think about it in a long run perspective.
So, if you wish to stay within the previously outlined project budget it is crucial to plan the project implementation precisely step by step and keep track of the execution at all points. Be ready to optimize your workflow according to the received results and control the way your project team is performing. These simple means will ensure the best performance with the least expense.