The model suits well small and medium projects on condition requirements and specifications are prepared by a client and are fully understandable for the team. The client pays a certain fixed price which is defined by the contract before the start of the project.
You have all the requirements and acceptance criteria clearly composed and can describe them confidently to the team
You are searching for the right people in a team to build a product according to definite time and strict budget.
Your project is not as large in terms of development and you have a clear vision of the final product.
You do not plan to change requirements during development.
You are ready to allocate the control and responsibility for task execution fully to the team.
After the team is presented with requirements, we analyze complexity and project scope. Once again this model presupposes that project requirements, time to be easily indetified at the very beginning of the project, so there should be no doubts from both parties of the project final results.
As a result of analysis, we compile an agreement that outlines project detailed plan, deliverables, and deadline. Each detail of the agreement is to be thoroughly discussed and agreed upon because the signed price will remain the same throughout the whole project.
We understand that clients who apply for this model anticipate the finest delivery on-time. Thus, the team works at a steady pace, indulging into business needs and dedicating efforts to the most effective management. We provide talented people who are well-versed at all aspects of the technology stack for the product and who are able to gain domain-specific knowledge in the shortest terms.
None of the cooperation models can exclude unexpected turns. Especially within the Fixed Price model being 100% sure that development will cost you no less and no more of fixed sum is not wise. Thus, our team estimates possible risks and provides clients with a Risk Premium plan. It is a payment which is already included to the fixed price and covers uncertainties and contingencies that might happen during development.
Book a meeting with Digital Business Expert Viktoriya Khomyn