Once a client has accepted a project proposal (e.g. scope, costs, timeline, etc.

Question

Once a client has accepted a project proposal (e.g. scope, costs, timeline, etc.) you should develop and present a Statement of Work (SOW). A sufficiently detailed SOW can assist with the negotiations during the bidding process as well as deal with potential conflicts during the execution of the contract. The SOW can be utilized to address risks such as not meeting requirements or non-performance of work.

Question: As you work on the improvement of software program project at Walmart, determined or estimate the price or cost of the project?  

Explanation / Answer

Cost estimation for the software program project at Wal-Mart should include the below:

Above all the costs listed, effort cost is the most dominant cost. The effort cost would include the below:

SOW plays a crucial role in determining cost for software program project. SOW defines the software specific activities, deliverables and the timelines the project in each phase. These specifications are pertinent in determining the project cost. Since Wal-Mart has many stores located globally, it is pertinent that the SOW details activities in each store. This SOW is helpful in predicting the cost of the software project for Wal-Mart.

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