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Time & Material Business Model
Time & Material business model is developed for projects, where scope, specifications and implementation plans are not clearly defined at the initial stage of its development and hence total effort cannot be estimated accurately with any reasonable degree of confidence at the time of placing the contract.
If compared with Fixed Budget offer, which is ideal for projects with a detailed technical specification, Time & Material model is the best for scalable projects and provides the flexibility to manage the team size and total efforts.
We follow an agile development methodology to develop projects following Time and Material Model with strict project management and reporting practices. In this methodology, we plan a phase that consists of certain tasks to be done in accordance with the client's priority and deliver it in a defined time line. After completion of this phase, we plan another phase for another task in the priority list.
Details of Business Model
 Follows agile methodology for product development thus providing greater comfort and confidence to client as well as to development team
In the first phase certain task are planed in accordance with the client's priority and deliver it in a defined time line.
The second phase includes planning another task in the priority list. The time line for a phase varies from 15 days to one month depending upon the overall project size.
FOCUS experienced Account Manager will ensure effective constant communication to keep our clients updated on all resource aspects.
We work hand in hand with our client for the execution of end-to-end project.
Benefits of Time & Material Business Model
This model enables the client to amend the specifications based on the upcoming market trends.
It is the best for scalable projects and provides the flexibility to manage the team size and total efforts.
This model follows a strict project management and reporting practices where task sheets are generated on a daily / weekly basis for each person working on the project. Hence the employee’s contribution in the project is easily evaluated. This brings more sincerity towards the job.
Payment Details
The cost of the project depends on the team size and effort of each team member. In order to specify the rates charged for the efforts placed, the client needs to specify the project scope, task and period of time. Once the client is satisfied with our rates we sign a contract with him stipulating the team roles, their hourly rates and the payment schedule which depends upon the phase’s duration and will be done on a monthly or bi-weekly basis according to the effort reports. |
Tags :
material business model, time business model, time and material business model, offshore outsourcing it services and software outsourcing services, software outsourcing company, time and material model for offshore software development, offshore outsourcing IT services and offshore outsourcing IT solutions, focus.com.tn |
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