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Fixed Bid
The Fixed Bid Business Model fits the projects with well-defined requirements. This model can be applied where clients are able to specify sufficient details for the completion of their projects.
Rapidsoft Technologies is able to clearly define the scope of a project and thus has adopted Fixed Bid Business Model. In this model, the cost and time invested in the project are previously estimated and then a lucid project plan is formed. Fixed bid business model helps clients easily hire the right developers and accurately control the fund-flow.
Whether you are a technical or nontechnical client, our Fixed Bid business model professionals help clients write the specifications based on their idea. After this, our experts find out the estimation on the specifications for client's evaluation.
When the project has well-defined scope, specification and deployment plan, it can be executed in fixed time at fixed prices. On the basis of project details, estimation for the project and engagement is done. Payment model for such engagement is done either based on milestones that are marked with specific delivery or at defined interval of time after completion of certain task. The Change Management Process is followed when it comes to provisioning or managing any modification or enhancement.
Following are the advantages of Rapidsoft's Fixed Bid Business model:
- No need for a company to involve with in long-term partnership
- The price-agreement is decided in the beginning and is not subject to change in any condition.
- Minimal administrative burden and associated risks.
We follow an agreement on the price for development, as the Projects with fixed price are not subject to change until certain provisions are introduced in the agreement or contract. The amount of payment is not dependent on the resources or time spent on the project.
We at Rapidsoft's recommend Fixed Bid business model for small-sized or urgent projects. This model works perfectly when all the details of software are well-defined and will be stable all through the process of the development.