Firm Fixed Price Model: A Fixed Price model is viable for projects with well defined requirements and schedules. When your need is clearly specified in sufficient detail, we will estimate the project scope and complexity, and provide a project delivery schedule along with a fixed price for the complete software development.
Under this business model, we ensure quality delivery of the final product within a scheduled time-frame, and you pay a mutually agreed fixed price for the project implementation.
FFP model allows you to determine exactly the project budget in advance. However, in comparison with the Time and Material model, a fixed price model tends to be less flexible for managing changes and additional features requests. Any requirement changes or new feature requests occurring during the project implementation process will cause a re-negotiation of the delivery schedule and price.
Time and Material Model
When the project scope, specification and implementation plans cannot be precisely defined at the outset or requirements change dynamically during the project implementation process, the Time & Material model provides the flexibility of varying the size and workloads of the development team assigned to your project, while optimizing time and costs. Under the Time & Material option, InfiCare offers its skilled resources and the development effort is billed at the end of every month based on the negotiated and a mutually agreed hourly rate. This engagement can go from a few months to several years. Hence, the total project cost is determined by the amount of time and resources expended and the actual effort towards the development.
The Time & Material model offers you a high degree of flexibility to alter specifications, accommodate unplanned activities rapidly, and adjust project resources based upon your evolving requirements throughout the software development process.