The Fixed Price Model in Software Development
Why you should consider it
First thing’s first: What it is?
In a nutshell, the fixed-price model involves the service provider (us) making an agreement with the client (you) on a clearly defined process, time frame, and budget for your project. This is all laid out in a contract well ahead of time, and lets business owners just like you from all around the world breathe a huge sigh of relief.
Fixed-price processes generally work best for projects with clearly-defined requirements and blueprints. Such projects usually already have a clear-cut SRS (Software Requirement Specifications) document among other key technical aspects.
Why choose a fixed-price model?
From the word go, you’ll know exactly how much you can expect to pay for the entire development process. As long as no changes or serious additions are made to the project, pushing the budget beyond the agreement, fixed-price plans give you more control of your budget, timeline, and project as a whole. This protects you from loss and kicks unnecessary costs to the curb.
By agreeing on a specific time frame, we as the service provider are contractually bound to deliver on time and within budget!
Fixed-price software development projects are meticulously planned to perfection over several milestones. We bring out our strongest tried-and-tested methodologies here, couple with our experience of working with different clients from all over the world. The fixed-price process is trackable and transparent, and of course, you’ll know exactly what you can expect to pay ahead of time. There are zero hidden surprises.
If you have any issues at any stage of the process, don’t keep them to yourself. Your project manager is here to chat any time via email, phone, or instant messenger. And when it comes to change management, everyone will have access to a central change request pool to view, control, and approve timelines, budgets, and modification requests.
Outsourcing software development can be daunting, but with a fixed-price model, you’re safe. You’ll know upfront exactly what you can expect to pay, while avoiding the common pitfalls we often see businesses like yours trip into headfirst.
If you are interested in a fixed-price on your upcoming software developing project, let GHB Software lead the way, with a transparent quote, quality deliveries, and a prompt and professional approach.
How Fixed-Price Projects Work with GHB Software
When you choose to partner with us, you’ll be assigned a devoted PMP-Certified project manager who will confidently manage every aspect of the software project planning and execution process. We’ll move mountains to ensure every milestone is met, quality is guaranteed, and cost targets aren’t stretched. Here’s how the process works:
- We create and maintain the project development blueprint
- We’ll outline the steps needed to carry the project from start to finish successfully
- Once you’ve made a 40% deposit, we can begin
- You can track our progress and get updates every step of the way
- We’ll clarify the software specs and design details
- We’ll listen to your feedback and make revisions accordingly (provided these don’t alter the brief, as per the contract)
- You’ll receive the final functioning product upon the final 60% payment
No software development journey is straight-or-narrow, but with a fixed-price system, you can walk the road with less stress, lower risk, and less money or resources wasted.
GHB Software is, as far as we know, the only company of its kind with experience in both end-toend software development services AND logistics and transportation. Our in-house logistical experts develop leading software for the T&L (Transportation and Logistics) industry, and we’re ready to develop your fixed-price project agreement to ensure reliable results, a reasonable timeline, and a budget that’s never pushed beyond its limits.