How are project specifications and budgets determined in this model?
Project specifications and budgets in this model are determined through an iterative and collaborative process involving various stakeholders. This includes the client, project manager, development team, and other relevant parties. The specifications are typically defined through a detailed analysis and requirement gathering phase, where the client’s needs and goals are identified. The project manager then evaluates the requirements, considering factors like feasibility, complexity, and resources. Based on this evaluation, the budget is determined, taking into account the estimated time, effort, and associated costs for the development. Regular communication and feedback loops ensure that any changes or updates to the specifications are properly accounted for in the budget.