1. Dedicated Team Collaboration
Definition:The dedicated team collaboration model involves a long-term partnership between a client and a team of developers. It entails close collaboration and ongoing engagement to develop the Analytical Dashboard. The agreement typically includes an agreed-upon monthly rate billing for the dedicated team aligned for the project based on the requirements.
Benefits:The offshore/onshore team provides a cost-effective and hassle-free option for CXOs seeking close involvement in product development.
This model offers complete control over the development approach and ensures the dedicated allocation of the team’s resources.
Clients have the flexibility to easily scale up their teams, enabling seamless collaboration, control, and enhanced security.
2. Time & Material Pricing
Definition:Time & Material pricing is a billing method that determines the cost of a project based on the actual number of hours allocated to build the Analytical Dashboard. It considers the hourly labor costs and the expenses associated with the materials used.
Typically, the commercial aspects of this pricing model are defined by considering factors such as:
Hourly rates for the resources involved
Costs associated with allocating specific types of resources.
Benefits:
Well-suited for scenarios involving Product Maintenance, shorter engagements, or ad hoc requirements.
The hourly model provides greater flexibility for continuous enhancements and ongoing development.
Proof of Concepts (POCs) can be executed with reduced risk and improved clarity before committing to a complete product lifecycle.
3. Fixed Fee Contract
Definition:A fixed fee contract is a contractual agreement in which the payment amount remains constant and is not dependent on the resources utilized or the time expended by the contractor. In the case of developing an Analytical Dashboard, the fixed fee is determined based on the type of project work allocated based on the requirements provided.Benefits:Well-suited for projects with a clearly defined scope and a predetermined budget.
The project scope and costs are established and agreed upon at contract signing.
Ideal for scenarios where the client wishes to focus on their business rather than managing development teams.
