The economics of software development
Updated: Feb 28
The first introduction I ever had to economics was a simple problem statement and diagram which was drawn on the whiteboard by the teacher. Bearing in mind this was A-Level economics rather than anything more complicated, it simplified the science of economics as a battle between infinite wants and finite resources.
How do you go about allocating resources fairly, and effectively in order to increase the size of the ball on the right, and best balance out the above see-saw? Of course there are many ways and conflicting opinions as we see in governmental economic policy. In software development, the same is true. For us, we have the same two areas of focus:
Effectiveness can be read as efficiency - we need to ensure there is minimal waste when we carry out the work.
Fairness relates to the greater good. If we cant please all of the people - the users of our product - all the time, what decisions need to be made to maximise total benefit given the finite resources we have?
Those decisions are what we specialise in at GBC Digital. With a strong focus on waste minimisation and strong leadership and decision making, we can ensure that your digital project moves fast, efficiently, and successfully. Explore our case studies below for examples of our decision making in action.