Time and Materials

Concept

Customer will be charged at an hourly rate based on the resources utilized and the time spent for the project. The main focus is on making sure we meet all of your needs/requirements.

Applicability

Suited if you have complex project where the specifications evolve as the implementation progresses. This model provides the customer greater flexibility in terms of developing the project specification on an ongoing basis and modifying the specifications based on the changing market needs.

Process

We work with you every step of the way to build your system and prioritise and scope each element. The implementation of each element is embarked upon with a provision for change management and assumed updates. The effort is charged on a pre-agreed hourly rate. You hold the flexibility to change the model as and when you want in mutual consent.

The beginning of the project is usually quite involved and complex; work estimation for each stage is established at this point and that takes time. We will work closely with you to identify the scope and prioritize each individual element. We will prepare time estimates for each stage, define the deliverables and clearly state the assumptions involved.

Benefits

• Flexibility in revising your application during the build phase.
• Cheaper costs.
• Complete transparency. We provide detailed timesheets of every week

Disadvantages

• May cost more and can delay project each time you want to change your mind or add new features.
• Requires the most day to day oversight from the buyer

Fixed Price

Concept

The emphasis is on TIME and MONEY. You as a customer know how much it is going to cost and how soon are you going to get the deliverable. Predictability and assurance is the hallmark of this model.

In this model you and Pintum Information Systems agree to a fixed price and timelines for a project at the beginning of a project. This is a popular engagement model which clients feel comfortable dealing with as it gives them a budget and timeline that is fixed.

Applicability

This is a good model for all projects where the specifications of the project / product are clear and well documented and where change management is mutually agreed upon. You should engage this model when everything about your project is apparent from the beginning of your project to its delivery, and you have a clear timeline and budget.

Process

You will provide a detailed specification document to Pintum. We will review specifications and ensure that all assumptions, details are made explicit.  We will prepare an estimate for cost and time frame for the project.  Pintum will also highlight the scope of change and possible risks during the execution phase. We will define change management, communication protocols, milestones and timelines. The project is executed as per the agreement. In this model, for any change in scope at the later stage in the project execution, a prior agreed upon fixed hourly rate is charged to the client.

Benefits

• Budget predictability
• Speedy completions of project as the changes during execution are minimal.

• Fixed Price model helps you deliver high quality solutions on time and on budget.
• Ensures few or minimal changes / modifications during the execution of the project.

Disadvantages

• Low flexibility
• May cost more
• Harder if you want to change your mind or add new features.