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Getting the scope of the project right is really important.

We consider our self to be Software Consultants and not just software developers. The key difference between the two is :
Software developers just go ahead and build what they are asked to do, Software consultants understand your problems and expectations and make recommendations to make you get the best value for your money.

Our Estimation Process :

We try and break your business problem into smaller problems.

Try to come up with a high-level solution for each small business problem

Try to estimate time/cost for each small solutions

Try to prioritize the smaller pieces of solution based on EFFORT vs IMPACT

We create milestones based on :
Low Effort High Impact
Medium Effort High Impact
High Effort High Impact and so on