To make estimation of a project, it’s necessary to take into account a variety of factors and involve different specialists. Business analyst works with potential customer’s requirements, technical specialist helps to reach better results if involved at an early stage.

There is a set of techniques, used for estimation:

• “Expert judgement”
• “Analogous estimating” 
• “Bottom-up” estimating
• “Parametric estimating”
• PERT

After the estimates are ready, it’s possible to calculate the project cost derived from:

• Provided estimate
• Business analysis and project management
• Contingency reserves
• Cost of quality
• Management reserves 

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