Selecting the right engagement model for your venture will ensure not only Project success but also best value for money and smooth collaboration for both the parties.
How to select the right engagement model for your software development project ?
We suggest our clients to go through below list of criteria and understand how the answer to each of these criteria will actually determine what kind of service and hiring model will be perfect fit for you.
What is the size of the Project?
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Is it a large scale research based Project ?
Is it a small or medium sized based Project targeting a few set of functionality?
What is the deadline for Project delivery?
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Is the Project acceptability is largely depended on timely market launch to customers?
Is the Project Timeline is depended on other internal or external factors of your business which may delay the Project and not directly affect your actual through-put of the business profit?
What is the level of Control & Supervision you need over the team ?
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Do you have in-house resource(s), skill set or time to devote to the Project management activities?
Do you want us to handle project management and involve you with regular updates, reports, feedbacks and approvals?
What is the budget of the Project?
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Do you have a pre-set budget to fit into your expense?
Do you accept that it is not easy to set the budget before digging deep to clarify the concept and requirement detailing?
What is flexibility level of the Project in terms of requirement?
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Are all the requirement clear, concise and detailed?
Will there be continuous changes or new requirements will be evolving as you move ahead during the Project development
Is the Project just in idea phase and need more research & clarification before moving into the Project development
Choose from any of our below hiring model options that is best fit for your budget, your in-house skillset (if any), Project needs and market strategy.
Time and Material Contract (T & M)
When to prefer
- When the scope of work associated with a project is not clearly defined.
- Research based and complex large scale projects
- There are chances that the requirement will be evolving over the time.
- Support & Maintenance Contracts
Project Management
- Project Management will be handled entirely by the customer. Continuous Communication between the client and the MetWaves team will be the key criterion.
- Regular reports (Daily/Weekly) on the project status and role effectiveness is communicated to ensure value for the time and resources invested.
Payment Terms
- Client will decide how many resources will be required and what technology stack is preferred.
- MetWaves will provide resource(s) as per the pre-determined skill set, competence and tech stack needed for the Project execution. Time-based billing is set for each resource type that will be involved in the Project. Client is charged based on the number of hours dedicated by each resource.
Fixed Cost Model
When to prefer
- Clearly defined project goal and requirement
- Limited Scope of the Project (mostly appropriate for small and medium-sized project)
- Pre-set Budget
Project Management
- Daily client Supervision is far less as compared to Time and Material model.
- Regular development reports and status is shared as per the intervals decided by the client.
Payment Terms
- Both time and money are decided upfront.
- Well-defined and pre-defined project deliverables which is then tied with the various payment milestones
Dedicated Resource Model
When to prefer
- This model handles the cons of both the Fixed cost and Time-Material based engagement model.
- Client gets the resources based on monthly payments system. Client can even shuffle resources depending upon the load or phase of the Project execution.
- Mostly preferred for long term projects.
- Fixed Requirements or continuous changing requirements - both the scenarios work fine in this model
Project Management
- Client has complete control of the Project development activities.
- It is advisable that the client has the vision clarity and plan in advance to manage list of tasks and resource allocation. This way client will be able to utilize the team optimally and get maximum output.
Payment Terms
- Monthly cost of the resource(s) is fixed after the project requirement and skill set discussion.
- Client pays every month to the team.
Hybrid Engagement Models
Combination of Time based Model & Fixed Cost Model OR Combination of Dedicated Resource and Fixed Cost
Suppose your Project requirements still need more research and detailing before going into the development stage. In this case, Client can opt for Time and Material model (Hourly billing) or Dedicated Resource model, until the requirement clarification is complete and well defined deliverables are identified. After requirement analysis phase, client can switch to Fixed Cost model.We want to work with you to the best of our abilities and build a long term partnership. We offer variety of engagement models for you to choose depending upon your Project needs. We also welcome you to suggest your own preferred engagement model with us.
Any hesitation about which engagement model to choose ? Get-in touch with us, our team will contact you and help you choose the pricing model that best suits your project characteristics.
Get-in TouchAny engagement model you choose, we assure you :
Secured development environment
100% Privacy Maintained
Maintenance and support
Management and Reporting Terms preferrable to you
Protection of intellectual property rights and full transfer of documentation developed for your project
How to Start
These steps are just a brief idea to make you familiar on how we go about to build a partnership and start working with you !
First Meet-up
Our clients contact us via email or phone to share their ideas & expectations with us. It can be as simple as short description of the Project goal or you can also send us RFP or RFQ. We are ready to sign NDA (Non-disclosure agreement).
Metwaves proceeds with discovery phase
In this step, we get to know about our client. Our team will go through Project requirements in detail. Depending upon the Project complexity or Project clarity, our team will contact you to collect more information and analyze the solution. Technology stack, architecture and UI/UX recommendations will be discussed.
Negotiation
MetWaves team will share our understanding of the Project requirements to ensure we align with you on the same goal. This understanding can be in the form of Project Scope document, Feature list, Project roadmap, functional and non-functional requirements. Project team members will be assessed based on the experience, expertise, languages and technical skills. Conduct interviews with engineers if needed. Engagement Model will be discussed to finalize the payment terms, delivery date, Project milestones
Metwaves team will send Proposal
This proposal will consist of Project estimation in terms of time and cost, recommended Technology platform, tools and methodology. List of Team member(s) along with their role description in the Project
Finalizing the Proposal and Sign Agreement
Client reviews the Proposal document. If any changes in the understanding of Project goal or any specific expectations from MetWaves, will be discussed and proposal will be revised before taking final approval
