Predictable Budget | Fixed Price | Time and Material | Dedicated Team |
---|---|---|---|
Quick Start | ✔ | ✔ | |
Predictable Budget | ✔ | ✔ | |
Predictable Budget | predicted | controllable | controllable |
Set Timelinest | ✔ | ✔ | |
Iterative process | ✔ | ✔ |
Every model has advantages and disadvantages and is only effective in certain situations. However, in the IT industry, the most popular engagement models are: time and materials contracts, fixed bids, outstaffing and dedicated teams. We recommend that you analyze the specifics of your project as well as your company objectives before selecting any of the engagement types. If you are unsure, you may get advice from our experts, who can assist you in selecting the most cost-effective model.
Predictable Budget | Fixed Price | Time and Material | Dedicated Team |
---|---|---|---|
Quick Start | ✔ | ✔ | |
Predictable Budget | ✔ | ✔ | |
Predictable Budget | predicted | controllable | controllable |
Set Timelinest | ✔ | ✔ | |
Iterative process | ✔ | ✔ |
Consider selecting a dedicated team if your project will take more than six months to complete and you need to keep knowledge within the team. This engagement model and Time & Materials are extremely similar in concept. The primary distinction is that a full-time staff member is assigned just to your project and does not work on projects for any other clients.
Before starting with a dedicated team model, you must provide a complete analysis of your project, including what you hope to accomplish, try, and test, how much money you have, and how long you expect to spend working on it.