Fixed Cost
If you’re an entrepreneur with a small or medium-sized project with well-defined objectives, the fixed price model is for you. Your project requirements, spec, and schedules can be fully established at the start of development under this model, which lowers your risk. A set price approach has the advantage of requiring minimal management on your part.
Advantages with Fixed Cost model:
- It reduces financial risk
- Client can invest their money precisely on the projects ROI
- Flexibility to outsource projects
- Better control over the IT cost
- Clear, well-defined and non-changing requirements
Time & Material
If you have a small project that requires minor changes, backup or restore crash or recovery, or if you wish to upgrade your software with new features and functionalities, the hourly price model, is the perfect solution. The overall cost is exactly proportionate to the time and resources required to complete the project under this paradigm.
Advantages with Fixed Cost model:
- It reduces financial risk
- Client can invest their money precisely on the projects ROI
- Flexibility to outsource projects
- Better control over the IT cost
- Clear, well-defined and non-changing requirements
Hire Dedicated
If you’re an entrepreneur who wants to develop a custom software application for your business but doesn’t have the time to speak with each team member about your requirements on a regular basis, the dedicated team model is for you. You only pay a fixed monthly cost for each resource you use or hire in this arrangement. You have complete freedom in selecting the most qualified and capable personnel.
Advantages with Fixed Cost model:
- It reduces financial risk
- Client can invest their money precisely on the projects ROI
- Flexibility to outsource projects
- Better control over the IT cost
- Clear, well-defined and non-changing requirements