What is the benefit of carrying out a Project Estimation Phase?

Learning Centre > What is the benefit of carrying out a Project Estimation Phase?

It will essentially minimise the risk for both you and us by giving our mutual expectations a foundation.

It will essentially minimise the risk for both you and us by giving our mutual expectations a foundation.It will essentially minimise the risk for both you and us by giving our mutual expectations a foundation.
Contents

Product development is inherently a risky business. Many factors affect the deliverables of your product, not least of which is market forces, competitor activity or technology changes that may render your solution obsolete even before you've started!

That's why having a clear understanding of what the project consists of, how it will be built and where all the pieces fit together is fundamental to success.

The PEP will provide you with a thorough breakdown of how much your product development project would cost and how long it would take for us to do it.  It will essentially minimise the risk for both you and us by giving our mutual expectations a foundation.

In this project estimation process, we will break down the specifications into components that can be built, or technically "traced" from your product idea. This way we'll identify potential problems early on to save time and money in development.

We'll also give some insight into what features might be challenging and what is most important for this project so we can build something that really works for you.

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Product development is inherently a risky business. Many factors affect the deliverables of your product, not least of which is market forces, competitor activity or technology changes that may render your solution obsolete even before you've started!

That's why having a clear understanding of what the project consists of, how it will be built and where all the pieces fit together is fundamental to success.

The PEP will provide you with a thorough breakdown of how much your product development project would cost and how long it would take for us to do it.  It will essentially minimise the risk for both you and us by giving our mutual expectations a foundation.

In this project estimation process, we will break down the specifications into components that can be built, or technically "traced" from your product idea. This way we'll identify potential problems early on to save time and money in development.

We'll also give some insight into what features might be challenging and what is most important for this project so we can build something that really works for you.

Key Takeways

Join 70+ companies accelerating their product development with Innovolo
Farm+Stable is a client of Innovolo, a product development as a service provider offering R&D teams globally extra capacity, capability, and momentum in their product development and obsolescence management projects. As a company that specializes in the development and engineering of products for the agriculture and construction industries, Farm+Stable has benefited from Innovolo's expertise in helping to bring new products to market quickly and efficiently. In particular, Farm+Stable has been able to rely on Innovolo's team of experienced engineers to help with the design and development of a new line of products that are designed to be more durable and longer-lasting than previous models. With Innovolo's help, Farm+Stable has been able to bring these new products to market in a timely manner, and they have been well-received by customers. Thanks to Innovolo's innovative product development solutions, Farm+Stable has been able to stay ahead of the competition and continue to grow their business.
Innovolo is a product development as a service provider. It offers R&D teams globally extra capacity, capability, and momentum in their product development and obsolescence management projects. Its services are used by clients in a variety of industries, including automotive, aerospace, consumer electronics, and medical devices. One of its clients is Kawneer, a leading manufacturer of aluminum products for the architectural and construction industries. Kawneer has been using Innovolo's services to help develop new products and to manage the obsolescence of its existing products. Thanks to Innovolo, Kawneer has been able to speed up its product development cycle and to reduce its costs. As a result, Kawneer has been able to bring new products to market faster and to better meet the needs of its customers.

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