Cooperation Models -> Fixed Price Model

Concept

You discuss the scope of the work with us, clarify all details, set a fixed-price budget and agree timelines for the completion of the project. This offers you complete certainty before we start work.

Applicability

If this is your first time working with us, this model will give you the greatest sense of security because the timeline and budget do not change so long as there are no additions or amendments to the agreed specification(s). We want you to be confident that we will deliver what you want on time and at the agreed price.

This model requires a thorough analysis of your needs and clear detailed specification documents. We rely on the information you supply to estimate development time and cost. You have to be open and honest, and co-operate actively with us so that the basis of our agreement is sound. Once we start work, you must also provide timely feedback. If you are unhappy, you must tell us immediately so that we can keep the work on track to meet your expectations.

Approach

We agree the nature and probable scope of the project. Our experts will then start preparing the detailed specification.
When we have elicited all your requirements and the specification document is complete, we will estimate the price and timelines. If these key terms are acceptable, we will prepare a contract for signature. The full agreement covers all aspects of our relationship including commercial confidentiality, licensing and intellectual property issues, the extent of our warranty, the agreed period of maintenance and support, etc.
As soon as the agreement is signed and the initial payment is received, we will start the development phase.
If it is a single task, once all the development work is complete and the source code has been delivered, you will complete your tests and, if the work is satisfactory, make the final payment. If the work is divided into components, we deliver each milestone component for testing, and you make the appropriate installment payments to move us through to the end of the project.