Fixed Price Model is ideal for the projects with a short life cycle, where the agility and quick response to the market changes are not needed.

Ideal For

 

  1. Non-technical customers with a clear business vision ready to invest in heavy discovery phase and prototyping
  2. Technical customers with well defined project requirements
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Benefits

 

  1. Fixed budget
  2. Media Projects BG is fully responsible for meeting deadlines
  3. No need for project management on the customer side

 

Limitations

 

  1. Requirements should be defined before the start of the project
  2. Project Scope is fixed
  3. Out-of-scope change requests are paid over budget

 

Prerequisites

 

Software Requirements Specification document (SRS) is required. If it is not available, we assess for you what needs to be done to create it. Normally, we propose to use our Software Requirements Specification service to complete an SRS. As a result, you may use the specification to run a tender to get the best fixed-price offer from the several service vendors.

 

How We Work

 

Discovery Phase

Here we do the initial analysis of the project requirements and estimate the project scope and associated risks.

 

Estimation Phase

The SRS is used to produce both the high-level system architecture design and the detailed implementation estimate.

 

Proposal Phase

If you approve our estimate and provide your desired implementation timeline, we start the proposal phase. We form a project team, plan the milestones, and a release date. The plans are described in the project structure definition document that we send to you for approval.

 

Negotiation Phase

After the proposal phase we initiate the negotiation phase. Here we sign with you an independent contractor agreement with all the project documentation included.

 

Implementation Phase

During the implementation phase the development is divided into several iterations. Each iteration is planned beforehand and is then tracked and evaluated.

 

Acceptance Phase

Once the product is ready we will deliver it to you for acceptance. We will also supply you with the test reports proving each requirement has been verified and confirmed.

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