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.

Bharti Softland finds that T&M 4 FPM Model is increasingly becoming popular among all types of clients – whether they are onsite, offsite or offshore clients. The model allows clients to brainstorm with our experts initially to come up with detailed and accurate description of requirements, schedule job processes and balance team size and project workload within a budgetary framework.

With extensive experience in project development, BSL professionals can put forth a provisional quote based on their estimate of man-hours a project will require. However, the actual cost of the project that you end up paying can be a little less or a bit more than the initial quote, depending on the changes and modifications a project requires during the course of its executions. You will be give exact report of how manpower and resources have been deployed, which is quite transparent and verifiable. BSL has a well-developed reporting method that keeps meticulous record of number of man hours spend on a specific task, so that customers pay for exactly what work has been done for them.

A T&M 4 FPM is the best pricing model for bigger, longer and ongoing projects, which may need some inputs and feedbacks in the beginning from the client but can be perfected over time to ensure that all the requirements of the clients are successfully met with. This project model has finally found a middle ground for the professional who like hourly payments and clients who would like to make a one-time payment for the project. BSL makes sure that clients are only charged fairly for the project and has evolved methods to generate accurate invoice of the number of work hours spent on a project. The hybrid-pricing model that offers the benefit of defining time and material and pays a fixed price for a project helps you to optimize your budget without compromising on the quality of your product or application.