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A comparison between Time and Material and Fixed bid engagement

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Software development on time and material, software development on a fixed bid, time and material engagement, fixed bid engagement, Define time and material, define fixed bid, Hourly rates for software development, monthly rates for software development, rates on time and material, total cost of development on time and material, effort based engagement for software development, Software development on unclear requirements, fixed team of software developers, dedicated team of software developers, software development non clear requirements, large software development projects, direct control over software development resources, Cost savings for large software development projects, control over offshore software development team, Fixed bid project approach, Time and material project approach, Coding on time and material, coding on a fixed price – PowerPoint PPT presentation

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Title: A comparison between Time and Material and Fixed bid engagement


1
A comparison between
Time and Material and Fixed Price engagements
for Software Development
2
Presentation Contents
  • Defining the models
  • When to use
  • Project approach
  • The cost / fee
  • Reach us

3
Defining the models
  • Time and Material
  • and
  • Fixed Bid

4
Time and Material
Fixed Price
  • 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.

5
When to use
6
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
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