Fixed Price
Engagement Model
PieORBIT’s Fixed Price Engagement Model (FPE/FTE) entails a pre-determined project cost, making it ideal for projects with well-defined requirements for the solution or application to be developed.
The project scope and costs are established at the contract signing, with project execution adhering to this agreement.
In this model, project costs are directly linked to clearly defined deliverables, typically associated with various payment milestones throughout the project’s lifecycle. This structure facilitates visible progress monitoring and minimizes project risk.
Should the project scope undergo significant changes, a Change Management process is initiated. This process accommodates changes with mutual approval, including any associated costs and timeline implications.
PieORBIT's
Fixed Price Model
- Low monetary risk. This is the only model that gives you an exact figure you can plug right into your budget planning. There’s no danger of going over budget and having to figure out additional funding. If the project goes overboard, the supplier bears the cost.
- No surprises. Everything is laid out in the requirements and, provided they are clear and detailed, you know exactly what you’re going to get at the end of the project.
- Clear deadlines. All the stages and terms of development are agreed upon by all the stakeholders, so deadlines can be reasonably expected to be met.
- Efficiency. Finishing the project in a timely manner is in the interest of the supplier, so the developers are highly motivated to be productive.
- Ease of management. Payments are pre-determined both cost-wise and due date-wise. What is more, little involvement on your part is necessary for the day-to-day carrying out of the project. Once you do your part of the work — providing the requirements — you can hand the project over to the supplier and not worry about it until its completion date.
BENEFITS OF FIXED PRICE MODEL
Responsible Answerability
Incentivized Efficiency
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