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A comparison between Time and Material and Fixed bid engagement

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A comparison between Time and Material and Fixed bid engagem

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Software development engagement series - 3

A comparison betweenTime and Material and Fixed Price engagements for Software Development


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Presentation Contents

  • Defining the models

  • When to use

  • Project approach

  • The cost / fee

  • Reach us


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Defining the models

Time and Material

and

Fixed Bid


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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, we provide skilled resources and the development effort is billed at the end of every month based on the pre-negotiated and a mutually agreed hourly rate. This engagement can go from a few months to several years.

The total project cost is determined by the amount of time and resources expended and the actual effort towards the development.

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 pre-scheduled timeframe, and you pay a mutually agreed fixed price for the project implementation.

Time and Material

| Fixed Price


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When to use


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Time and Material

| Fixed Bid

  • When your requirements are not clear.

  • When the projects are spread over several months to several years.

  • When you require high degree of flexibility.

  • When you want the project processes to be tailored to your requirement.

  • When you want the resources to be controlled directly.

  • When you want simplicity and want to avoid the complexity that always creeps into large software projects.

  • When you want a fixed and dedicated team.

  • When your requirements are clear and defined in detail.

  • When the projects are spread over a few days to a few months.

  • When you want little or no flexibility on the project requirements.

  • When you want to determine the exact budget in advance.

  • When you don’t want to have a direct control on resources.


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  • Time and Material

Savings

  • Fixed Bid

Control

Control Vs. Savings for high tenure projects


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Project Approach


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Fixed Bid Project Approach

Understanding of Project

Requirements Gathering

Proposal and Schedule

Contract

4 days

Development

Delivery


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Start Up

Execution

Onsite Exposure

Pre-Start Up

  • Understand your Requirements

  • Identify Goals

  • Determine Infrastructure requirements

  • Determine Resource Requirements

  • Negotiation

  • Contract Sign-up

  • Candidate Search

  • Pre-screening

  • Final interviews

  • Finalized Team

  • Infrastructure Set-up

  • Process Set-up

  • Onsite Training

  • Understand Application

Steady State

Knowledge Transfer

  • Development Activity

  • Project Communication

  • Reporting and Status

  • Management and Support

Time and Material Project Approach

(21 days)


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Cost / Fee


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Time and Material

| Fixed Price

  • If you wish to go for a fixed price model, we would provide you with a fixed quote for the fixed and detailed requirements that you provide to us.

  • The engagement will be for a pre-defined period and any changes to the requirements would involve re-negotiation.

  • If you wish to go for this engagement, we would finalize on a fixed hourly rate that falls between USD 12 and 20 per hour and quote the same to you after going through the source code and analyzing skills required for the dedicated developers.

  • The commitment we expect under this model needs to be a minimum period of 6 months.


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Thank You

We're easy to talk to - tell us what you need.

iBoss Tech Solutions Pvt. Ltd.

India Office:

B-59, 1st Floor, Sector -63

Noida – 201301

USA Office:

6916, Castle Peak Drive,

West Hills, CA 91307

Email: [email protected]

Phone: +91-120-3937314

US Phone: +1-818-337-4553

UK Phone: +44 - 208-819-9751

Mobile: +91-9818857875 / +91-9810157105

Fax: +91-120-3937308

Website: www.ibosstechsolutions.com


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