In a fixed price contract model, the emphasis is on time and money. At the time of signing the contract, Firmusoft® Solutions and the client agrees on the price and timeline of the project. This provides the client with a predictable and assured timeline and also a fixed budget. Firmusoft® Solutions is committed to meet the deadline and deliver high quality software within budget.
This model is ideal if the solution to the problem is known or if the client has a clear idea of what has to be achieved using the software. In this model, the requirement specification is finalized prior to development. The requirements document will be reviewed jointly by Firmusoft® Solutions and the client and any ambiguities are resolved and assumptions are clarified. Based on this, Firmusoft® do an analysis on the effort required and proposed a price and time line for completion.
This model assumes that the client will provide relevant knowledge in the business domain. Significant changes and additions to requirements are discouraged during the course of development. The application will be developed based on mutually agreed requirements specification.
The benefit of this model is the limited risk involved, as the price and timelines are fixed in advance. The success of this model depends on the clarity of the requirements specification, and to ensure this, Firmusoft's business analysts can aid the client in evolving the requirements specification, by being part of the discussions and providing inputs on technical feasibilities.
In this model, the client is charged in person months. This is ideal for projects that are longer in duration and where requirements evolve during the course of development. There is no fixed time frame for development. One of more persons from the client's side who are knowledgeable in the business domain will be in touch with the developers at Firmusoft® on a regular basis. Their responsibility is to review the product that is being developed and provide feedback to the developers.
Clients can opt for this model if the solution to their problem is unknown at the start, or if they do not have a precise idea on the functionality that they need. By reviewing the evolving software, the clients can add to or change their requirements on a regular basis. The development continues until the client is satisfied with the product.
If all the client has at the beginning is an idea or a problem definition, Firmusoft® Solutions can develop prototypes for the client. Based on these, the client can decide if he wants the idea to be implemented as a project. The focus in this model is on the solution and the requirements evolve to fit the solution.
The effort estimation is also done at the various stages. The work progresses in units of functionality. At the completion of each unit, the client can review the product and can make changes as necessary. The effort is charged on a pre-agreed monthly rate for each developer involved in the project. Firmusoft® Solutions' research and project management experience is an added benefit to the client.