Engagement Models @ Pennant…
Time & Materials or Effort based model
In the ever changing economic climate, organizations are forced to balance the business as usual functions and the new initiatives that are critical to stay ahead of their peers.
At times, there are situations where the projects are prone to specification and design changes in midstream. This model is very useful in such situations as it gives customer greater flexibility in terms of developing the project specification on an ongoing basis and modifying the specifications based on the changing market needs.
The project cost is a function of the project execution time and the corresponding resources deployed in this effort based pricing model.
We suggest this model to clients for project requirements which evolve during the life cycle of the project or for specialized skill requirements for a period of time or in the situations where client want to have greater control on the overall project for the entire duration.
This model can be adopted for onsite work as well as offshore needs or a combination of both based on the client needs.
In addition, we can derive the hybrid model with a right combination of the Fixed Price Delivery Model and the Time & Material Model so as to offer the right model based on the customer requirements and one that offers maximized value.