Fixed price model ensures control on financials and timelines of the project wherein the project value, the duration and the features of the solution will be agreed at the time of contract signing. This model delivers the best value when the business requirements, scope of the project are clear and are detailed enough.
This is a right-fit model that provides clients with the necessary flexibility when there is a concern over progress. Prices are pre-negotiated for the entire deliverable and the entire effort including the key milestones will be derived and agreed upon prior to the initiation of the work.