This phase includes several aspects:
Target audience research
Define the business purpose
Why Do You Need the Agile Discovery Phase? 4 Reasons to Consider
This phase allows you to take a consistent approach to the development process to build a startup on time and within budget.
Project documentation is a roadmap for your future digital product. It allows you to structure your team and plan all the stages of development. Thus, you get a document that regulates all the necessary resources at different stages (design, development, testing, and project management). This roadmap allows you to control the process and keep it in a consistent state.
A prototype file is a monochrome, low-fidelity version of an application design based on requirements documents. This file provides the program's basic functionality and does not display visual components. Prototypes are needed to verify that the design can be built according to requirements, and also allows you to focus on enhancing the user experience.
At this stage, it is crucial to have bilateral talks between the customer and the development team about the project. Our team makes sure to discuss everything: from the concept of the future product to potential problems during development and after launch. Besides, during this phase, we provide an estimate of the project cost.
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How Much Will a Product Discovery Phase Cost?
The cost of the discovery phase of a project on average ranges from $5000 up to $15,000.
There is a pretty simple formula behind these numbers. Pricing of a discovery phase is 10% out of a development budget. After the initial discussion of the idea, the developers already have a rough idea of what is to be created and how it should work.
Therefore, the price of the discovery stage can tell you in advance about the price of the final product – an MVP or a large-scale application.
Here are the most important professionals who can easily handle the entire discovery phase of your software project.
Backend, frontend, or mobile developers
Depending on the company, the workflow of the product discovery phase may differ. However, we would like to outline the most common stages of the product discovery phase.
Interview with the Stakeholders
The initial technical requirements (workflow and technologies) are developed based on the business requirements. After a comprehensive analysis of the potential and prospects of the future product, developers make the final choice.
Here are some of the aspects that must be checked:
- Customer Profile
- The buying process
- Problems and pain points
Particular attention should be paid to customers’ pain points because the product should offer a solution to their problems.
- Competitor’s location
- Business model
- Monetization model
- The pricing offered by the competitors
- Main features and aspects of their product
These factors will help you understand where you can outperform your competitors.
Creation of SRS
During the project discovery phase, the necessary documentation is developed and used by the team to visualize the functionality of the future platform and create the user experience.
Prototyping and Wireframes
- Project scope and timeline
- Technical details and project requirements
- Cost estimation
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