Comment depends on the application (Score 1) 403
I think it depends on the needs of your client. My adviser's field of study is educational software and games, through working with her I have learned that the most difficult part of the development process is the design and not the coding. I feel to design very effective educational software you will have to understand the pedagogical context of your clients. And to design engaging educational games, you will have to understand the students background and interest. Especially since our school system and culture is radically different from say India, it is difficult to develop something that is fits well with the requirement of the client.
You can probably write a very detailed requirements doc. But if it has to be detailed to the point where you are listing all the functions, you would probably feel its easier to just do it yourself. The big question is how well divided will the design and software development processes be? If both can be considered separately, then out sourcing won't hurt the company too much. Otherwise outsourcing may cause the company to lose more money than they save.
Good luck, may your job be safe.