Software development projects that are built around a fixed budget, timeline and cost, are referred to as Fixed Duration projects. For small to mid-sized projects where the end-user is the buyer of a product or a service, this is the most common of all delivery methods.
Opt for the Fixed Prices Business Model if
- The anticipated duration of the project is low.
- Requirements are not likely to change during the development process.
- The requirement is for a Business-to-Customer (B2C) venture and perhaps starting on a low scale/key.
- Enhancements to features and functions are likely to follow only after project implementation and not during the development process.
- Software implementation is governed by ‘extremely’ tight budgetary and financial constraints.
Under this option, the customer pays a pre-negotiated fixed price for the complete project scope agreed upon, which in turn is linked to well-defined deliverables. The cost of the project escalates only when there are changes to the requirement. We have a well-defined change management process which helps customers justify the extra time and cost.