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ENGAGEMENT MODELS

Project Basis - Engagement Model

Fixed price models have predetermined costs for each project. If you have clearly defined project requirements for the application or solution you intend to develop, then this type of method will work best for you. Contracts are signed to determine the work scope and costs, and the project is implemented by these agreements. There are well-defined deliverables in this project, which are closely linked to various milestone payments during it. Arrangements like these enable clients to monitor their projects' progress and minimize their risks.

Expected result

Results are negotiated and placed in front of the audience. Before the development process begins, you provide the demands and technical specifications, and you receive the products and services to meet your requirements.

Visibility

With the detailed specifications that are written before the project begins, the fixed price model provides you with a forecast regarding the project deadline. As our proposed deadlines have already been approved by you, you will be able to track your project's progress and know precisely when it will be completed as we move along.

Less Management from the client

A client's needs will determine how things are structured, and what they know about what to do. A fixed price model is less time-consuming and labour-intensive due to the fact the development team, scope of work, and budget are all defined up front.

Projects with a short-term, well-defined scope

Choosing a fixed price may make sense for projects that will not take longer than three months to complete. Keeping your budget in mind for the quarter will help minimize the possibility of being surprised by changes in circumstances. Before the start of the project, it is important to know the vision, the goals, the expected results, the target users, and the inherent risks.

Budgets that are limited or complicated

A fixed price seems ideal if you know exactly what you must spend or if you need the project budget approved before any adjustments can be made. This is usually the case in the financial and government sectors, where the acceptance of an offer of implementation is dependent on a predetermined price.

A rigid timeline

An unmovable deadline will guarantee that you will be able to complete the project on time if you hire a fixed price. Nevertheless, in such a situation, you should be cautious to ensure that your requirements are as clear and accurate as possible - if changes need to be made, these will have their due dates, so a rigid timeline will become less rigid.

Ease of management

We predetermine the due date as well as the cost of payments. Further, to implement the project on a day-to-day basis, some involvement from you is necessary. The initiative should be handed over to the supplier after you have done your part - providing the requirements - so you do not have to worry until the project is completed.

Our Project Basis Process

Requirements

An all-inclusive set of requirements is the basis for any fixed-price project. Each desired service functionality, feature, and characteristic must be described clearly and extensively, as well as acceptance criteria for each.

Request for proposal

Requests for proposals are organized once you have determined the requirements of your project. An outline of the business needs of the company, software specifications, and evaluation criteria is provided in this document. Moreover, it should include a specific schedule for completing the project along with a list of the tasks involved.

Clarification

Having clarified the requirements with the vendor upon receiving your request for proposals is the next step. A vendor estimates the project's budget and timeframe after clarification of the requirements are accepted.

Offer of implementation

Vendors present an implementation offer containing the fixed scope of the project, the delivery schedule and payment terms, the procedure for change requests, and how you can mitigate risks. As soon as you accept the implementation offer, you agree with its terms. At this stage, typically a prepayment of 50% of the total is made.

Development

We are beginning to develop intermediate services. During a project, you will not receive a functioning service until the very end. In the case of a vendor handling design, the first delivery you get will be a sample of your product's appearance, but with no functionality included.

Going live

Uploading the finished service to a production server is commonly the last milestone. This is the point at which the website goes live, and users start interacting with it.

Finalization

Following the completion of the acceptance period, the project is finalized, final payments are processed, and you receive any outstanding deliverables, including all relevant documentation and the source code of the project.

Requirements

An all-inclusive set of requirements is the basis for any fixed-price project. Each desired service functionality, feature, and characteristic must be described clearly and extensively, as well as acceptance criteria for each.

Request for proposal

Requests for proposals are organized once you have determined the requirements of your project. An outline of the business needs of the company, software specifications, and evaluation criteria is provided in this document. Moreover, it should include a specific schedule for completing the project along with a list of the tasks involved.

Clarification

Having clarified the requirements with the vendor upon receiving your request for proposals is the next step. A vendor estimates the project's budget and timeframe after clarification of the requirements are accepted.

Offer of implementation

Vendors present an implementation offer containing the fixed scope of the project, the delivery schedule and payment terms, the procedure for change requests, and how you can mitigate risks. As soon as you accept the implementation offer, you agree with its terms. At this stage, typically a prepayment of 50% of the total is made.

Development

We are beginning to develop intermediate services. During a project, you will not receive a functioning service until the very end. In the case of a vendor handling design, the first delivery you get will be a sample of your product's appearance, but with no functionality included.

Going live

Uploading the finished service to a production server is commonly the last milestone. This is the point at which the website goes live, and users start interacting with it.

Finalization

Following the completion of the acceptance period, the project is finalized, final payments are processed, and you receive any outstanding deliverables, including all relevant documentation and the source code of the project.