Fixed Price Models are best suited for those kinds of projects where all the specifications are fixed and clear, especially the ones of small scale and less in complexity. You can use this model when your project has all the requirements laid out clearly from the initial stage till the delivery time and there are no changes happening.
Fixed price models are those where the client gives all the detailed information related to the project, the specifications, and then pays for the project in a pre-defined fixed amount that has no scope of any further changes. The change requests will be scoped separately as part of the engagement roadmap.
Advantages you get with Fixed Price Model
This model is especially suitable for projects that complex and wide in the kind of development requirements involved. For the kind of projects where there is a constant need of changing something or the other at various stages. Where project specifications are not clear or require freedom of system design changes at project mid way. This model thus gives a lot of flexibility to the clients in terms changing the specification of the project requirements according to the change in market demand and other such factors.
This model is best suited where you spend only for what and how much you use. The total cost within in model is a function of the total time taken in the execution of the project and the resources deployed therein. This model gives the client total control over the money spent and is highly flexible according to the needs and individual requirements.
This is typically a staff augmentation service model which we can provide you with a team of professionals dedicatedto respond to your business objectives on setting up an offshore development center. You can choose to hire starting from a single professional and then scale up to a full-fledged development center.