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Software engineering is at the lead of the services that use outsourcing and outside contractors. The global contract value of the IT outsourcing market (2000-2019 years) is $63.5 billion to $159.1 billion. estimation of your software product development plays a crucial role in your business planning and you should choose an agency or contractor with the right approach for estimation of a software project. For making an accurate estimation it is necessary to have proper documentation, and specified requirements for the project. The accuracy of the estimation is in direct ratio to the quantity and quality of the information.