Fixed Price Model
Time and money are indeed very valuable and we also share the same belief. Hence, we offer this model in which a pre-determined price is fixed for the implementation of the task successfully. If the project is large enough, then we develop a test plan at each stage of the project development to record all the resources and time taken in completion of the task up to that stage. This will rule out any kind of ambiguities of an erroneous report regarding the amount of time and money we employ in your task fulfillment. Here, the client is required to pay a pre-payment and then have to pay at each stage of the project completion.
Test Plan Elements:
After we get a task from the client side, we do the analysis part and then develop a test plan. Our test plan includes the following elements.
- Test strategy
- Ascertaining the scope of testing
- List preparation for the things needed to be tested and resources required
- Selecting the various automation tools needed to perform the test
- Judging the elements of risks involved
- To make an estimation of time for task completion
Benefits With Fixed Price Model:
A fixed price model comes with its own bunch of advantages. Some of them are including but not limited to the following ones.
- Achieving supreme quality solutions on time
- Completion of the entire project within a scheduled budget limit
- Chances of last minute changes are minimized in the project
- A robust business analysis beforehand with excellent support
- Availability of skilled and experienced professionals
- Effective communication to ensure a smooth workflow.
This model is particularly good for almost all projects because of its advantages and predictability feature. However, sometimes working with a fixed price model is not justified if the project is very much lengthy or time consuming. This model is best for small and medium sized projects.
Projects with detailed well defined specifications are also brilliant to go this way without any hurdle. Feedbacks are taken frequently from clients at each stage.