Fixed Price Model:
The Fixed Price model is most suited where the scope and specifications of the project are very clear and specific enabling us to complete it within pre scheduled timeframe. When your need is clearly specified in sufficient detail, bentsys estimates the project scope and complexity, and provides a project delivery schedule along with the fixed price for the complete product development.
Fixed Time and budget estimation before project kick off.
Familiar requirements ( we have done projects like this before) or clear requirements (detailed analysis and application design )
Milestoned tied payments
Establishment of mutually agreed fixed costs on the basis of Project size, scope and complexity.
Low perceived risk
Encourages clarity of specifications and requirements before project execution.
Strengthens project execution due to clarity of specification
Time and Material Models
The Time & Material model is usually adopted for product development when the client is not very clear on the specifications, scope and implementation plans at the time of signing the project or requirements may change dynamically during the project implementation process. We offer its skilled resources, and the development effort is billed at the end of every month based on the pre-negotiated and mutually agreed hourly rate.
bentsys also provides you with the flexibility to switch to the Fixed Price model once the project scope becomes clearly defined and the requirements are firmed up.
Cost is the function of time and resources deployed
Flexible resource allocation
Ideals for small jobs / tasks based approach
Regular updates to client
High degree of flexibility
Accommodate unplanned activities rapidly
Adjust project resources
More control over implementation
Less expensive than fixed