What is a fixed-price (project-based) model?
A fixed-price (project-based) model is a pricing model often used in software development where the client and the service provider agree on a fixed price for the entire project. The cost is determined upfront, taking into account the scope of work, requirements, and milestones. This model provides predictability and allows clients to have a clear understanding of the project cost from the beginning. The company takes the responsibility for completing the project within the agreed budget. However, any changes or additional work requested by the client may incur extra charges. This model is suitable for well-defined projects with a clear scope.
September 13, 2023