Consulting Partners are required to quote against a set of requirements in a Statement of Work.
These are generally acquired during the ‘Discovery’ which can take anywhere from a few days to a couple of months, depending on size and complexity of the project.
It also depends on how you will be running that project.
Fixed Price (FP) ?
Time & Materials (T&M)?
Anywhere in between?
FP Waterfall projects traditionally have objectives that are very clear, and the requirements are unlikely to change (much) which dictates that requirements must be as detailed as possible, in order to price in uncertainties and risks.
However, the world is moving faster than ever, and those too slow to adapt will be disadvantaged.
If the client knows ‘roughly’ where they want to get to, and are happy to ‘figure out the details’ along the way, Agile might be the way to go.
Here, the requirements need not be as stringent, as things will definitely change during the journey.
Know what the client is expecting, and plan/schedule your Discovery workshops accordingly.
Unless you enjoy ‘character-building’ headaches😁.
Do you agree?