The creation of LMS MVP version that encompasses all the stages of the full-cycle development with the key features (see the “Must-have features for LMS” section) will take approximately from 1,600 hours and cost you $128,000 at $80 average hourly rate in the USA; $104,000 if you consider a Western European vendor who will charge its hour at $65, and $56,000 if you partner with an Eastern European LMS provider with the rate of $35 an hour delivering the same quality of work.