How does specification impact the budget of the project?

How does specification impact the budget of the project?

31 Aug 2020

You can face a lot of opinions about the unnecessity of specifications, losing time and money but we have opposite thoughts. A good-written specification can help you with estimations and saving the project budget. But do you really need to pay for specifications? Let’s sort it out.

First, we need to have a look at a definition. The specification is a document that describes product requirements, features, objectives and goals in detail. You go to the future contractor and tell them about the ideas and challenges you face. The contractor specifies the list of your project requirements and necessary steps of their implementation in this document. After that, you need to read it, possibly adjust and sign it. Only after that, the contractor can start the work on your project.

So, how can this document save your money when you actually need to spend money on its drafting? The specification will show you realistic estimates, whether the contractor’s vision meets your idea, and warn you of any further possible expenses. Thus, you’ll see all the details at the early steps and can make the necessary adjustments.

This is not a rare situation when a customer brings the idea, the contractor implements it but the result doesn’t fit the customer’s expectations and the project needs to be remade. You spend lots of money and don’t receive the expected result. The specification can save your money and ensure the product is built in the way you see it.

Thus, you can add some steps, change the tech stack/strategy or rewrite product features at all at very early stages without losing a penny. As a result, you’ll have a detailed description of the product and every step of its creation and implementation, estimations, and all the further expenses. Do you still have a question of whether you need to pay for a well-written specification? ;)