A fixed price model entails a fixed price and time for the project, as agreed upon by the client, once the scope and specifications are defined right from its beginning. The fixed price model is ideal for small and medium level projects where the scope is precise and definite and the specifications are chalked out upfront, detailed and clear. Fixed price model is usually preferred when the project is described comprehensively and defined right from its start to finish and hence the results are also more or less defined.
We will analyze the requirements, seeking clarifications where necessary. We will then submit a detailed proposal including time and cost estimates. On acceptance of the proposal, we will prepare the System Design Document and the Project Plan and submit them for approval. Simultaneously, we will build the project team and set up the development and testing environments.
we provide an assurance that the project will be completed within the budget limits and the time-frame specified by the client.
Fixed price model is the best alternative for Small and medium level projects with well-predefined requirements and deadlines.
Benefits of Fixed Price Model
Fixed estimation of project costs
Clearly specified project timelines
Exact development plan and technical documentation
On-time, on-budget delivery of a project
Low-risk business model
Transparent communication /Regular updates on your project development