Don't ask for an estimation! Budgeting Agile Projects
You start a pretty big IT project and you have to answer the questions coming from the board, investors and other stakeholders. One of which is undoubtedly: “How much will it cost?” Assuming that you have a precise project specification in the form of a set of screens, flow and a technical description (API documentation, cases and user scenarios), the exact project evaluation may take a team several hours, or even days, and it doesn’t mean that they made a correct estimate. This is caused by the nature of IT projects, which are usually extremely complex and depend on many factors. Experienced IT managers agree on this — you need a budget, not an estimation.