Are there any risks associated with a fixed-price model?
Yes, there are risks associated with a fixed-price model in software development. While it can provide benefits like cost predictability and scope clarity, there are potential challenges that need to be considered. These risks include potential misunderstandings of project requirements, inflexibility in adapting to changes, and the possibility of cost overruns or quality compromises. However, by following best practices such as conducting thorough project analysis, maintaining effective communication, and having clear contracts and specifications, these risks can be mitigated.
September 13, 2023