Time and Material Model of Pricing
Framework
The standard time-and-materials methods of work, is based on actual spend. This is usually monitored through timesheets and progress reports.
From your perspective, you are always assured of getting what you need and paying for only what is needed.
Applicability
This is the best method for implementing projects which are longer in duration and where the project specifications evolve as the implementation progresses. Large scale and complex projects are best executed using this approach.
The objective of any software project is to find a solution to a business problem. This model allows the software service provider and the client together to arrive at that solution. The best suitable solution possible to resolve the business problem can be delivered to the client. The focus is more on the solution and the specifications evolve to fit the business solution.
Approach
This model has a start point from various stages viz. post specification, pre-specification, post architectural design etc. A comprehensive scenario will involve problem definition, solution definition, research, business analysis, specifications, visual mapping, architectural design, documentation, coding, change management, testing, roll out and support.
The effort estimation for all the elements for all stages at the beginning of the project is usually involved and complex. You and Interactive World prioritize and scope each element. Interactive World prepares an effort estimate for that stage, defines the promised deliverables for that element and states the assumptions involved.
The implementation of each element is embarked upon with a provision for change management and assumption updates. The effort is charged on a pre-agreed hourly rate based on the quality of resource engaged. Interactive World and Client agree on a change management practice and provide room for the same.
Interactive World’s effective project management ensures that effort is estimated and implemented in an effective and controlled fashion to reduce time and cost overruns.
This process is repeated for each of the elements until the solution is delivered in its entirety.
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Our Clients
Our client associations are case studies in themselves. Some of our clients have been with us since the inception of the our company - Interactive World. A click on any of our client logos below will tell you more about our association with them with a snapshot of the projects executed.
