Time & Material
A flexible solution for dynamic requirements
With the increasing complexity of IT projects, flexibility becomes a primordial factor for the success of such projects. Outsourcing can be an effective solution provided to opt for a business model tailored to the needs of the project.
Our Time & Material business model is a flexible outsourcing software development solution intended for projects where scope, specifications and implementation plans are not clearly defined at the initial stage of its development. Therefore, total effort cannot be estimated accurately with any reasonable degree of confidence at the time of placing the contract.
Compared to Fixed Budget offer which is ideal for projects with a detailed technical specification, Time & Material model is the appropriate solution for scalable projects as it provides the flexibility needed to manage the team size and total efforts.
We follow an agile development methodology to develop projects based on Time and Material Model with strict project management and reporting practices. In this methodology, we plan a phase that consists of certain tasks to be done in accordance with the client's priority and deliver it in a defined time line. After completion of this phase, we plan another phase for another task in the priority list.
An Outsourcing business model adapted to software development agility and scalability
Time & Material business model allows working hand in hand with our client for the execution of end-to-end project. The possibilities it offers in terms of agility of development and scalability are detailed below:
- This model follows agile methodology for product development thus providing greater comfort and confidence to client as well as to the development team.
- In the first phase, a certain task is planned in accordance with the client's priority and delivered in a defined time line.
- The second phase includes planning another task in the priority list. The time line for a phase varies from 15 days to one month depending on the overall project size.
- Focus experienced Account Managers will ensure effective constant communication to keep our clients updated on all resources aspects.
Benefits of Time & Material Business Model
- Time & Material Business Model enables the client to amend the specifications based on the upcoming market trends.
- It is the best for scalable projects and provides the flexibility to manage the team size and total efforts.
The model follows a strict project management and reporting practices where task sheets are generated on a daily / weekly basis for each person working on the project. Hence the employee’s contribution in the project is easily evaluated
The cost of the project depends on the team size and effort of each team member. In order to specify the rates charged for the efforts placed, the client needs to specify the project scope, task and period of time.
Once the client is satisfied with our rates, we sign a contract stipulating the team roles, their hourly rates and the payment schedule which depends upon the phase duration and will be done on a monthly or bi-weekly basis according to the effort reports.Ask for a Quote