💡Use Case: How much does the project discovery phase cost

Typical steps in a discovery phase

The primary objective of the discovery phase is to collect essential information and insights that will guide the project's planning and execution.

Here are the critical steps involved in a typical discovery phase:

Define the problem: In this stage, the project team defines the specific problem or opportunity the project seeks to address. It is crucial to articulate the situation clearly to identify the relevant stakeholders and ensure alignment among all team members.
Gather information: During this phase, you gather relevant information pertaining to the identified problem or opportunity. This process may involve conducting research, analyzing data, engaging with stakeholders, and identifying any constraints or limitations that could impact the project.
Identify goals: After a comprehensive understanding of the problem, you can identify the goals you aim to achieve. These goals should adhere to the SMART criteria, meaning they should be Specific, Measurable, Achievable, Relevant, and Time-bound. This approach ensures well-defined objectives and facilitates effective planning and execution.
Analyze stakeholders: Identifying all project stakeholders, understanding their needs and expectations, and assessing their level of involvement are crucial steps in project management. This comprehensive approach helps build strong communication channels and ensures all stakeholders' interests are considered throughout the project lifecycle.
Develop a plan: Drawing upon the gathered information and defined goals, you can create a detailed plan outlining the necessary steps to achieve your objectives. This plan serves as a roadmap, guiding the project's execution and ensuring a systematic approach toward reaching the desired outcomes.
Define success metrics: To gauge the success of your project, it is essential to establish metrics that align with your objectives. These metrics should be specific, measurable, and relevant, providing a clear framework for assessing progress and determining project achievements effectively.

Which specialists are involved in the discovery phase?

🦁Project Manager

🐼Business analyst

🐯Technical Manager

🦄UI/UX Designer

🐘Backend | Frontend Developers

🐶Marketer

Accordingly, each of them performs a specific function and particular tasks. To do this, a specific pool of issues is created in the Jira Project, in which the teammates log time spent on the research.

Using Time & Cost Tracker to monitor costs of the discovery phase

Let's explore how to generate cost reports for the Marketing Analysis stage within the discovery phase.

During April, the marketing team dedicated several weeks to market research, user persona development, and related activities. In Jira, the team created tasks for each research component and logged their working hours.

After completing the work, we generated a comprehensive cost report that accurately represents the total cost of the marketing analysis phase. This report provides valuable insights into the resources invested and facilitates informed decision-making for future projects.

There were no one-time expenses in the current period - only payments for the usual tools (recurring expenses).

Next, we get the total cost of one of the discovery phase stages.

And then, accordingly, you can analyze the cost of each stage and, in the end, summarize the cost of the discovery phase in general.

It is also possible to monitor the cost of each task in the research project using the issue widget: