OFFSHORE BASED ENGAGEMENT MODEL:
TIME & MATERIAL BASED ENGAGEMENT
At times scope, specification and implementation plans of an engagement are not easy to define and specify at the outset. This may also be the case for evolving projects or engagements involving significant R&D activity. For such projects the effort estimation for all the elements and aspects of the project and for all stages is usually not possible right at the beginning.
In such situation resource utilization based billing is done. There is a specific rate associated with each resource depending on the experience, skill, role etc. of the resource in the project. The effort is charged on this pre-agreed rate (hourly, weekly, monthly) until the project is delivered in its totality.
FIXED PRICE BASED ENGAGEMENT
Projects with fairly well defined requirements, sufficient specifications and very little ambiguity can be executed as fixed time and fixed price projects. Based on this project details estimation for the engagement is done in terms of deliverables, timelines, cost and the execution / delivery contract is prepared. Enhancement or any changes are provisioned and managed through change management process. Payments are made either based on milestones, that is specific delivery or completion of specific task or periodic at fixed interval of time.
This model limits the risks associated with the project for both the Client and Netpro as well as ensures timely and within budget delivery. However this model limits change flexibility especially the changes which impact delivery and / or budgets.
HYBRID PRICE ENGAGEMENT
If the Client wants to works with a fixed price / fixed time engagement model but project specification are not sufficiently detailed or nature of the project is evolving, Netpro offers it client’s hybrid price engagement model. Here based on the project specifications and technology needs, Netpro appoints a team to work with the client. This team works on Time and Material basis and details the sufficient specifications, delivery, training and deployment needs of the project. Thereafter, these specifications are used to estimate the engagement in terms of deliverables, timelines and costs and the project is then executed as fixed time, fixed price engagement.