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The time and material model is perfect for the projects that do not have a well-defined scope, requirements and implementation plans or which are assumed to undergo amendments during any phase of the project development process. It is a hourly based model where the cost of the project depends on the time spent and resources utilized.
This type of model offers enhanced flexibility to the customers as they can amend the project specifications in the ongoing project, as per the latest market trends.
The hourly price model is a perfect fit for the complicated and big projects that have the possibility of frequent changes ongoing. Here are the main advantage of this project model:
Billing is done bi-weekly and supporting timesheets are sent to the customer.
This model offers flexible ways to improve cost optimization and refresh team.
Complexity of the project is depend on the integration and dependency on the external resources.
Scope under this model is defined tentatively and it evolves as the project move towards progress.
The fixed price model is ideal for the projects whose scope of work is clearly defined. This model is considered as risk-free for both service provider and client because the total cost and timeline are fixed before the project starts.
Along with the timeline and cost, the main objectives and deliverables for the project are also pre-defined. Such a pre-determination not only ensures on-budget and on-time delivery but also maintains good and healthy relations between both the parties.
Our fixed price model is ideal for all small or big projects provided that the scope of work should be pre-defined. Here are some main advantages of this model:
Fixed price model has a clear and well-defined scope of work.
Billing on the basis of the defined and agreed project milestones.
There are little or no external dependencies and this makes the project straight forward.
If any change in the defined scope of work, it is estimated separately and the budget needs to be approved from the client.
The retainer agreement model is ideal for the projects which are assumed to continue for longer and where the offshore services are sought on the permanent or temporary basis.
In this, the customer can have full control over the team working on the project including managerial and technical resources. Depending on your requirements we provide you highly talented performers and tech brainiacs.
This model lets you reduce your operational cost as you don’t need to employ an in-house team. And depending on customer preference, the payment method can be chosen as fixed price or as an hourly basis. Main advantage of this model are:
This model is best for the customers who have in-house staff to manage the projects.
The dedicated resources are assigned to client as per your project’s needs.
Billed on monthly basis for each resource and the billing can be fixed or hourly based as per the agreement.
The dedicated resources in this model act as virtual employees and handled by customer.
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