How to estimate the terms of service development without technical specifications?

Question

Fintech

How are projects (startups, services) evaluated at the start of which there is very little input data and it is almost impossible to estimate the term, especially the volume and cost. How does project budget utilization work?

Answer 1

Coffee grounds to help you.
In the case of a startup, MVP (minimal value product) is taken and it is determined which features are needed in the first place and it is calculated according to them. And to this, there is usually a separate agreement for an hourly wage for something that is not included in it.

Answer 2

Basically two methods with a finger to the sky and from the ceiling

Answer 3

Poorly rated, incorrectly. Even according to a clear specification, people are knocked out of the budget, and you want to evaluate a spherical project in a vacuum.
Divide into parts, stages, evaluate them.

Answer 4

The budget is allocated under the TK, without it there is only an assessment, it is absurd to somehow give a budget for an assessment.
This is how plus or minus a kilometer is estimated, but this is not even an estimate, but an estimate ...

Answer 5

Answer in question:

it is almost impossible to estimate the term , especially the volume and cost

More data is needed to turn "practically impossible" into at least "very difficult" first. How else? If only a finger to the sky and hope for luck / intuition.