Picking the most suitable model for your custom software development project is often challenging. With a number of engagement models, each having its own pros and cons, it becomes difficult to choose the right one. But that’s where the success or failure of your project starts!
An engagement model determines the relationship between you and your client. It defines communication, involvement, management, payment schedule, work hours, and whatnot.
Before deciding on the custom software development engagement model to go with, let’s look into the significant characteristics of each:
Fixed Bid Engagement Model
This model is also known as the project-based engagement model, and it’s a type of model that locks down all the project requirements before the actual development begins. Its characteristics are:
- Fixed Budget: It includes fixed time frames in a fixed budget. The client need not worry about the cost as the developer holds onto what’s agreed upon in the contract.
- No Flexibility: As the name suggests, the fixed bid model does not offer enough room for flexibility. Therefore, it is important to understand the scope of your project so that you need not make any changes at any later stage.
- Effective Option for Clear Requirements: The fixed bid engagement model is a suitable option for custom software development only when your project will not have changing needs constantly.
So, when you are familiar with your product needs, requirement, and scope and require the project to be completed in a certain period of time, go for a fixed price model.
Time & Materials Engagement Model
Here, we have another popular software development engagement model that’s offering unique aspects. The main characteristics of the time & materials engagement model is as follows:
- No Predetermined Aspects: Contrary to the fixed bid it engagement model, the time and materials model is rather flexible, allowing the client to choose the development tasks, number of hours, resources, and schedule.
- Client Engagement: This model makes the project more friendly, as it requires higher client engagement. This way, the final outcome is exactly what the client has been looking for.
- Make Changes on the Go: Time & Materials model allows you to set up work hours every day and has an hourly rate to deduce the price. Also, it lets you adjust your needs, change direction and features, and come up with a great product together.
- Agile Model: Time & Materials model is also known as the agile model given the flexibility and client engagement it demands. Together, the development team, stakeholders, and clients can formulate strategies and avoid fixing every aspect.
Dedicated Teams Engagement Model
In the Dedicated Teams engagement model, the software development company provides you a team that works, specifically on your project. Its unique characteristics are listed below for your learning:
- A Specific Team at Your Workplace: What makes this model unique is that the team works at your office, offering a great deal of flexibility and real-time monitoring of the progress.
- Good Understanding of Work Environment and Needs: Working in-house, the team well understands your project needs and requirements. It adds to the workforce, developing an efficient and effective product.
Different custom software development companies and services such as FortySeven Software Professionals offer different engagement models based on their capacity.
Weigh the pros and cons of the respective models to choose the right one for your project. Once done, you are ready to walk down the road of success!