In case you are just getting started with your very first project, you may find it challenging to estimate the cost of software development. Luckily, there are several ways to calculate the final price tag of your custom software development.
One option is to use the bottom-up estimating method. This method revolves around dividing the project into stages and evaluating their costs separately before deriving the final price.
The analogous estimating method relies on values derived from similar projects and can give you relatively accurate predictions if the difference between the two products is insignificant.
Alternatively, you can rely on expert judgment to determine software development pricing. Expert assessment is based on the data from previous projects, market environment, and peculiarities of chosen technologies.