Fixed-Price Project

Prerequisite for a fixed price project is a complete Business Specification, which usually is prepared by the customer. It describes the requirements from a user or business point of view. Preferably, it should be technology-neutral, leaving technology decisions to the technical specification phase. However, it may already define such details as development environment and tools to be used.
Alternatively, if a business specification does not exist, our Business Analysts can develop these together with the customer.

A complete Business Specification is the base for a fixed price proposal, which also defines the planned efforts in man-days, the required calendar time and a project plan with milestones. This is usually provided by us.

After the fixed-price contact is signed, we develop a Technical Specification, which describes in detail the technical implementation. The development phase starts, after the Technical Specification is confirmed by the customer.

The development phase is divided in several milestones, each of which constitutes a modular part of the development, and which allows the customer to verify the progress made.
The development phase is managed by processes and tools, like Gantt Charts, Milestone Trend Analysis, concurrent QA efforts, and regular planned, frequent (online)-Meetings.

After completion of the development phase, an acceptance test will be performed, whose details should have been already agreed as part of the Technical Specification.  A successful acceptance test then results in formal acceptance of the project.

After this, the warranty period starts, during which any so far undetected errors will be fixed free of charge.