Business Models, Time and Material and Fixed Cost in IT Company India

Business Models is a structure supporting for producing economic, social and other forms of value. The term ‘business models’ is a liberal range of informal and formal descriptions to stage core aspects of a business such as purpose, offerings, strategies, infrastructure, organizational structures, trading practices, operational processes and policies. A business models represents an organization or company that creates or designs to satisfy customers’ needs.

IT Company understands the need of customers. Different types of projects need unlike business models. IT Company’s business models have been developed keeping tractability of operation in mind. Depending on customers’ business requirements, they can select any business models that fit for website design and development project.

In this business model, IT Company forms team with required team members, project managers, equipment and infrastructure based on project needs. Customers need to pay daily/monthly/yearly charge based on the size of the team. This model offers shaped to balance team size and project workloads. Most of onsite services if not it is part of a fixed time and fixed price project, which are delivered using this business model.

IT Company offers well-versed, skilled, motivated, energetic and competent consultants who work as part of client team to provide quality solutions. IT Company has handpicked employees after evaluating their technical, communication and interpersonal skills. IT Companies balance team size and project workloads. Most of our onsite services have fixed time and fixed price project, which are delivered using this business model.

There are no hidden charges or any other additional costs involved. This provides customer complete independence to get the project developed as per budget provisions. The development life cycle is controlled by customer inputs and direction.

IT Company offers fixed price model to customers, which is a low-risk option and can employed people when the scope and specifications of the project are fairly clear. This model guarantees on-time and on-budget delivery of projects to customers. Productions, costs and timelines will be maintain in a such a way that the budget will not exceed.

Fixed cost project may demand extra programming work due to change or addition in range during the development phase. Under such contexts, it is possible to reorganize the fixed price based on the new range of project or continue development within the range & fixed price and then switch to another model such as hourly charges model. 

Overall goal of the team is to reduce additional cost due to range addition, whichever model it suits the budgets of the customers. IT Company follows a staged access that includes ranging, development, execution and business support. IT Company can offer customers an enormous advantage on the fixed cost front by combining the fixed time, fixed price model with our solution center.

Project Management development do extremely well for growth

IT Company project management skill offers customers the process of planning, monitoring and keeping control of IT projects. Project managers have broad experience in managing IT projects and delivering great results. Project managers can easily handle both in-house and off-shore development teams.

Close communication and keeping our customers up-to-date is a crucial part of Company procedure. It helps to build trust with our customers, which is essential to a fruitful collaboration. Company uses standard SLDC process with Waterfall model, Waterfall model is a sequential software development process, in which progress is seen as flowing steadily downwards like a waterfall through the phases of Conception, Initiation, Analysis, and Design  - validation, Construction, Testing & maintenance.

Through close team interaction, rapid reaction to changes and customer involvement throughout the process, we assure customers’ gratification with the delivered solution.

Company has optimized their processes for better support the business, reduce costs, improve quality, and improve time-to-market. They have turned to offshore outsourcing or Agile application development process to help these demands, but not both. So, given Agile methodologies' acute developer/customer interaction and light documentation requirements, the two approaches seem relatively opposed.  However, Company has master the complexity of merging the two types of approaches that can further reduce costs and also improve ability to communicate with remote development resources, a challenge for us for doing offshore outsourcing. Company does offshore work and can better meet customers' needs, and Agile development teams can cut costs.

The processes Company follows as such for Project Management are: Weekly Status Reports to Clients, Project Email Group, Fortnightly Internal Status Reporting, Monthly Target Meeting and Review Meetings.

Benefits to clients from the process Company Project Management follows are:

Company provide the Weekly Status Reports to clients as to update with where the project(s) is heading

Company maintain Project Email Group as clients can mail in one shot to the entire group of employees working for his project(s)

Company maintain Fortnightly Internal Status Reporting as to know internally, who is working on what and how much he/she has complete or need to complete the given project(s)

Company do conduct Monthly Target meeting to oversee the position of the work done for the project(s) by assigned employees, and we keep in track if the project work is reaching the target or not in given time frame

Lastly, company review meetings and try to give maximum benefits to clients by completing the work on time

Project Management Cycle

The Project Management Life Cycle has four phases: Initiation, Planning, Execution and Closure. Each project life cycle phase has tasks to complete. AceProject lets Company to manage all users in one account. Users can be employees, subcontractors, clients, telecommuters, or staff working at other branches. These users can all access your account simultaneously, from different locations, at any time, with their specific access rights. Each project can be integrated in a unique way, allowing different types of projects to be managed in a central place. Moreover, projects can be copied or transformed into templates to be reused later.

Company has proven project management skills and have  many years of experience in managing various projects of different sizes - small to big, we can assure our customers that we will able to deliver the final solution within timeline and better quality. Company follow best project management practice which is available in current industry scenario.