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Time & Material Model

Time & Material engagement model presupposes that billing is based on actual time invested into the development (man-hours actually worked) and actual cost of materials and equipment usage. This model is flexible to clients changing needs for time and resources.

How does it work?

When we get a general overview of the project, we will gather a team of skilled professionals to work on the solution. No detailed specification is needed to start the project. The team can be charged depending on the project requirements revealed during work.

Time & Material

  • There are no detailed project documentation or it has insufficient level of details.
  • Project specifications and requirement are constantly evolving and changing.
  • A long-term cooperation with the Service provider is planned.
  • The deadline are not clearly defined.

BUSINESS BENEFITS

  • Lover cost - Time and Material contract cost may turn out to be less than in a fixed bid.
  • Agility of workflow - it is easy to change priorities of specific features and add new ones within the same budget.
  • Time schedule flexibility - deadline can be easily changed if needed.
  • Reduce the risk of unmet expectations - the whole process is transparent and clear, payment occurs when the specific functionality is developed.

Fixed Price Model

The development process is built according to the cost and time estimates based on the project
details provided by the client. All payments within this model are made on pre-defined
milestones. The project specifications are frozen, the budget is fixed, and deadline are set.

How does it work?

Having received detailed project specifications, our team study them and make ime & cost estimations. When the estimation is worked out and contract is signed, no additional functionality can be added to the scope of work without a cost re-estimation. The number of people developing the solution might be altered depending on the project needs.

 

WHEN IS IT BEST USED?

  • Project specifications are clearly defined and will not be altered before the release.
  • Technical documentation is properly planned and available.
  • There are clear deadlines and/or a limited budget.

BUSINESS BENEFITS

  • Risk are minimized, the web solution is built exactly according ti the specifications provided.
  • No extra expenses as the price cannot be changed if the specifications stay the same.
  • Elimination of potential misunderstanding and disagreement with the software developer.

Dedicated Team Model

Our specialists become a part of your team working exclusively on your project. Billing is
based on hourly rates of the developers included into the dedicated team.

How does it work?

Business owners provide us a general list of project requirements and we gather the team of professionals who can do this job best. The client is fully responsible for the team management and control. The developers will report directly to the client. On our part, we will monitor the quality of the services provided and get involved if necessary.

WHEN IS IT BEST USED?

  • Project idea is well thought and defined, all project requirements are available and the development is about to start.
  • You have in-house specialists who can manage the software development process.

 

BUSINESS BENEFITS

  • Full control over the project progress and budget scheme.
  • No need to employ qualified specialists spending time and resources on hiring and management process.

Effective Project Organisation

No matter what engagement model you will choose to work with Fiverivers, we
guarantee that the development process will be effective and productive.

COMMUNICATION

A qualified project manager will be responsible for the project planning, management, work coordination and progress tracking. He/She will be a mediator between the team and the Client. Various types of communication means are available: email, messengers, phone and personal meetings.

COMPETENCE TRANSFER

Knowledge Transfer is a comprehensive business process ensuring that all information about the project is shared among the Team, Technical Manager and ScrumMaster. All data are gathered in a special formalized knowledge base (Atlassian Confluence), which is under the supervision of tech leaders.

PLANNING AND REPORTING

Fiverivers undertakes a commitment of regular and clear reporting on the project. The types of reports presented depend on the chosen engagement model: real time 24/7 reporting via Jira Atlassian, monthly reports, etc. It ensures transparency of the process and clear vision of the cost at every stage.

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