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business@midaswebtech.comMidas offers multiple business engagement models that are suitably designed and drafted to serve your business requirements. We are expert in delivering IT solutions and business consultation services to our clients onshore as well as offshore. Through our standard engagement models we are able to cater the needs of our clients by providing structured marketing approach.
Our finest marketing services and Information Technology resources are available for different business types with different marketing budget and project scale. Our models are beneficial in supporting start-up businesses as well as SMEs. Following are the highlights of our scalable and robust engagement models.Fixed Cost Model
Fixed cost model is effective when the project has a clear scope and outcome. This model works best when project needs are well defined and accordingly pricing and workload can be managed to complete the designated task on time. This low risk engagement model works best for small scale projects.Main traits of the fixed cost model are:
- Fixed cost
- Fixed time frame
- Well-defined technical requirements
- Standard procedure is followed when administering requested changes and modifications
- Phased approach for project management
Main traits of the fixed cost model are:
- Performing preliminary or initial level inquiry
- Thorough analysis of the project
- Quoted price
- Customer agreement
- Development stage
- Deployment and release
Time & Material Model
Time and material engagement model is effective when dealing with long-term projects that don’t have clear scope. This engagement models supports the type of projects that have undefined implementation plans and specifications. Even most complex projects can be easily administered through this engagement model to design suitable plan for a business-related problem. Medium to large scale projects can be handled using this model.Main traits of time & material model are:
- Price charged as per the resources used and time taken
- Work in collaboration with the client
- Flexible working pattern while maintaining complete work transparency
- Weekly and daily work targets
- Updating regular work reports and reviews
Time & material model & the process:
- Performing preliminary or initial level inquiry
- Analysis of the project
- Suggesting and designing the time & material model
- Customer agreement
- Development phase
- Regulating and monitoring the process
- Deployment and release of the project
Dedicated Team Model
Dedicated team engagement model is an efficient methodology for longer running projects which have project specifications which are subject to modification during implementation phase. This model can efficiently execute medium scale to large scale projects with varying levels of complexity. The selected development team works exclusively on client’s project and work as virtual employees to the client.Main traits of dedicated team model are:
- Specified team of dedicated developers undertakes the complete project
- Direct control and collaboration of client in the project development
- Daily or weekly work reporting
- Monthly payment, report and reviews
Dedicated team model & the process:
- Completing initial level inquiry
- Contract preparation and agreement signing
- Allocation and designation of resources and dedicated team
- Dedicated team and the development phase
- Monitoring and release of the project
Hybrid Model
Hybrid engagement model is a bespoke model which works on the agile pattern. This model can carry out and manage long-term and large scale projects. Models like Time & Material and Fixed Cost can be combined to serve the purpose of projects that have no clear specifications in the beginning and on the later stage once the project scope is specified then fixed cost model is followed. Hybrid engagement models can be enhanced and improved with time for proper execution of the project to deliver maximum business benefit.Main traits of hybrid model are:
- Cooperative development approach between client and Midas
- Amalgamation and fusion of traditional engagement models
- Traits and elements of agile system
- Customized model to suit the required business goal
Hybrid model & the process:
- Assessing the requirement and scope of the project
- Allocating agile team to administer the defined assignment
- Based on tool and resource requirement quoting the monthly cost of the project
- Regular reporting of work and completed tasks directly to the client
- Monitoring the quality standard of the services and working on the feedback
