KEEP YOUR RISKS LOW
WITH A FIXED-PRICE MODEL

At this point, we define the scope of work. First, we take a look at the present documentation. It can be a general idea set out in a letter or a comprehensive document with all the details. As we go along, we come up with some questions and suggestions to discuss later on. Then, we schedule a call with a prospect. At the meeting, we talk about our company, describe the way you're going to work, and talk over the client's idea.

Now that we know the requirements, it is time to determine the price. This usually involves defining the expected lifespan and capital requirements, but we sometimes suggest other factors, too. Based on the information we gather, we calculate the project cost preparing an estimate on the design and requirement specification. In order to guarantee timely delivery, we make sure the estimated scope is the work that the budget allows, though possible risk factors are always analyzed and taken into account during the project estimation process.

After the project is estimated, we bid a proposal based on those estimates. We present it either in person or remotely by scheduling a call. At a meeting, we offer and discuss options for the project execution: where it can be hosted, what technologies can be used, what the risks and their consequences are, how the product will be tested, etc. There may be several other iterations when we adjust the estimate and/or proposal. Eventually, when the middle ground is found, we issue a prepayment invoice and get started.

So, we start delivering design and engineering product development services. In 2-3 weeks, the client receives the first version of a product. Then, approximately once a week, we release updates to it. While we have the scope fixed, we still tend to embrace the change in an agile way. A fixed-price contract and agile software development approach (feedback loops, variation testing, and quick iterations) provide sufficient flexibility to adapt to changing industry conditions and ensure that all feature releases are solid and positive. So, after all the features are in place, we bring the project into production, test it, and issue the last invoice. Then we support the project, as long and as much as the client wishes.