In this model, the customer will be charged based on the resources utilized and the time spent for the project. This is the best method for implementing projects which are longer in duration and where the project specifications evolve as the implementation progresses. Large scale and complex projects are best executed using this approach. The projects are executed in phased manner using the approach.

The effort estimation for all the elements for all phases at the beginning of the project is usually complex and requires extensive hard work. You and Minmax define the scope together and prioritize each element of the Project. Minmax will prepare an effort estimate for that phase, defines the assured deliverables for that element and states the assumptions made.

The implementation of each element will have a provision for changes and assumption updates. The effort is charged on a pre-agreed hourly rate based on the quality of resource engaged. Minmax and Client agree on a change management practice and provide room for the same.

Minmax's effective project management ensures that effort is estimated and implemented in an effective and controlled fashion to reduce time and cost overruns. This process is repeated for each of the elements until the solution is delivered in its entirety.

Procedure

The execution steps under this model are same as the previous one except that the development effort is billed at the end of every month based on the approved time sheet and pre-negotiated hourly rate.

Benefits

This model gives customer greater flexibility in terms of developing the project specification on an ongoing basis and modify specifications based on the changing market needs . The client benefits from the strong business analysis, research and project management experience of Minmax in achieving the desired business solution. Managing complex projects needs expertise in various aspects of project management and a symbiotic and close interaction of various skills and tools. Minmax has the advantage of having all of them under one roof.