A comparison between Time and Material

A comparison between : 

A comparison between Time and Material and Fixed Price engagements for Software Development

Presentation Contents : 

Presentation Contents Defining the models When to use Project approach The cost / fee Reach us

Defining the models : 

Defining the models Time and Material and Fixed Bid

Time and Material : 

Time and Material 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. | Fixed Price

When to use : 

When to use

Time and Material : 

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. Time and Material | Fixed Bid 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’t want to have a direct control on resources.

Control Vs. Savings for high tenure projects : 

Control Vs. Savings for high tenure projects

Project Approach : 

Project Approach

Fixed Bid Project Approach : 

Fixed Bid Project Approach Requirements Gathering Contract Development Delivery Proposal and Schedule Understanding of Project 4 days

Time and Material Project Approach : 

Time and Material Project Approach (21 days)

Cost / Fee : 

Cost / Fee

Time and Material : 

If you wish to go for this engagement, we would finalize on a fixed hourly rate that falls between USD 12 and 20 per hour and quote the same to you after going through the source code and analyzing skills required for the dedicated developers. The commitment we expect under this model needs to be a minimum period of 6 months. Time and Material | Fixed Price If you wish to go for a fixed price model, we would provide you with a fixed quote for the fixed and detailed requirements that you provide to us. The engagement will be for a pre-defined period and any changes to the requirements would involve re-negotiation.

Thank You : 

Thank You iBoss Tech Solutions Pvt. Ltd. India Office: B-59, 1st Floor, Sector -63 Noida – 201301 USA Office: 6916, Castle Peak Drive, West Hills, CA 91307 Email: enquiry@ibosstechsolutions.com Phone: +91-120-3937314 US Phone: +1-818-337-4553 UK Phone: +44 - 208-819-9751 Mobile: +91-9818857875 / +91-9810157105 Fax: +91-120-3937308 Website: www.ibosstechsolutions.com We're easy to talk to - tell us what you need.