Concept:
The emphasis is on TIME and MONEY. You as a customer know how much it is going to cost and how soon are you going to get the deliverable. Predictability and assurance is the hallmark of this model.
In this model you and Amar InfoTech(AI) agree to a fixed price and timelines for a project at the beginning of a project. This is a popular engagement model which clients feel comfortable dealing with as it gives them a budget and timeline that is fixed. AI has perfected this model and is adept at delivering at high quality software in time and within budget.
Applicability:
The Fixed Price Model is best suited to small and medium level projects with definite scope and clear specifications of the projects.You can engage this model when everything about your project is apparent from the beginning of your project to its delivery and pay a fixed price as per the agreement.
AI recommends this model is ideal for customers who have detailed project specifications, timelines and budget.
Process:
You will provide a detailed specification document to AI. AI along with you will review the specifications and ensure that all assumptions, details are made explicit. AI will prepare an effort analysis and propose a fixed price and fixed time frame for the project execution. AI also will highlight the scope of change and possible risks during the execution phase.
You and AI will enter to in an agreement that covers visual aspects, documentation, application design, testing, support period, change management, communication protocols, milestones, timelines and commercial details. The project is executed as per the agreement.In this model, for any change in scope at the later stage in the project execution, a prior agreed upon fixed hourly rate is charged to the client.
Benefits with Fixed Price Model..
Fixed Price model helps you deliver high quality solutions on time and on budget.
Ensures few or minimal changes / modifications during the execution of the project.
Greater business analysis and appropriate suggestions.
Experienced professional will work on your project.
Best efforts for quality solutions within the fixed price.
Effective communication ensures smooth workflow.
This is a good model for all projects where the specifications of the project / product are clear and well documented with all aspects of esti-mation and change management mutually agreed upon.Since almost every particular project requires an individual approach and it is rather difficult to work out a detailed plan with fixed cost and deadline, we recommend a Dedicated Team Business Model or Time & Material Business Model.
Join hands with AI & step-in to success!!
