Phoenix Consultants adopts several Business Models varying in scale and cost to meet the Customer's need.
An ideal solution for small and medium level projects, Fixed Price Mode allows you to pay a fixed price for a project that have been agreed upon by both the parties. This model suits those projects where scope and specifications of the project are crystal clear from the very beginning and system requirements have been defined clearly. In this model, it is very important that you discuss everything and make an estimation of the appropriate cost of the project in the very beginning of the project. The project execution based on this model focuses on achieving results that have been foreseen in advance.
Under this Model Client is billed on the basis of actual time (month/week/hour) spent on executing the project at pre-decided rates for each resource who is deployed to work on the Project. This Model is adapted very often when the Project Scope is ambiguous and the specifications are not known. In this situation Phoenix Consultants resources will explore least cost and fastest schedule options jointly with the Customer and adopt the same to arrive at a solution. Customer is kept involved and informed at all stages so that the decisions regarding the methodology adopted is in concurrence with the Customer.
We have developed a Hybrid Model where we use Time & Material Model techniques to come up with an estimate for a project that does not have clear-cut goals or detailed and complete requirements in the initial phase and then, allow the clients to pay a fixed price based on the estimation. Known as the ‘Time and Material for Fixed Price Model’ (T&M 4 FPM), this hybrid pricing model has the best features of both the models mentioned above. While it allows the clients to deploy resources as in T&M model, most of the project is executed on the basis of Fixed Price Model and hence, has a smooth workflow and well-aligned processes.