The project costs whatever the customer has to spend on it
Advantages: You get the contract
Disadvantages: The probability that the customer gets the system he or she wants is small. Costs do not accurately reflect the work required
Step 1: Gather market intelligence: Marketing personnel identify competitors possible strategies and
Step 2: Determine requirements & features
Step 3: Sketch out Architecture Design
Step 5. Determine viable alternatives
Step 6: Cost Analysis & Estimation of Alternatives
Step 7: Select best alternative
Step 8: Establish price