Engagement Models
Fixed Cost
Fixed cost model talks about the following constrains:
- This is a desirable engagement model where you and Bizdata would agree on a fixed price and timelines for a project at the very beginning.
- In cases of low to medium level complexity, this mode of engagement is ideally recommended. Inasmuch as, it becomes suitable for projects that have defined specification documents and adequate details so that risks are foreseen and assumptions are explicitly and consciously made.
- There will be limited scope for changes and additions in this model. Bizdata will go along with you to review the specifications and ensure that all assumptions, risks and details are well understood and made explicit. Bizdata will additionally prepare an effort analysis and propose a fixed price for the execution of the project while at the same time highlighting the scope of change and indicating possible risks during execution.
Time & Material
When the picture is clear about your needs and requirements, Bizdata is ready to provide an offshore solution as part of a formal contract. Our experts are there to assist you to:
- Project cost is a function of the total project execution time and the corresponding resources deployed, in the effort based pricing model.
- Where the projects are quite complex and vulnerable to changes in specification design, this engagement model is particularly recommended.
- This model provides greater flexibility for the customer to develop the project specification on an ongoing basis and to effect changes of specifications in response to changing market requirements.