FIXED PRICE FIXED SCOPE | INSART Ltd.

FIXED PRICE FIXED SCOPE

FIXED PRICE FIXED SCOPE

Under this model, a set of pre-defined functionality is delivered by INSART within an agreed timeframe. This delivery mode requires that the project
requirements be thoroughly gathered and documented, and a detailed
functional specification be composed based on the result.

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Under this model, a set of pre-defined functionality is delivered by INSART within an agreed timeframe. This delivery mode requires that the project requirements be thoroughly gathered and documented, and a detailed functional specification be composed based on the result.

The project’s timeline and total cost are determined and fixed prior to its project’s start. Individual timelines, deliverables, and project objectives are pre-defined too.

The Fixed Price Fixed Scope model is mostly risk-free for both parties. It facilitates on-time and on-budget delivery.

The advantages of the Fixed Price Fixed Scope model are the following:

  • Low risks
  • Delivery within a predefined timeframe
  • The project cost is calculated in accordance with the desired quality
  • The client can precisely define the project budget in advance.
  • Payments are based on the actual progress.
  • Facilitates the implementation effort due to the composed detailed specification.

Who and what is the Fixed Price Fixed Scope model suitable for?

This model is ideal for minor projects, or projects with pre-defined requirements whereby the result must be delivered on budget, and within a predefined timeframe

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