An engagement model is a set of guidelines that defines the relationship between the client and the development team. It includes the responsibilities, obligation, commitment, rules, tasks, and duration of the engagement. All of these are written down in a legally binding contract signed by both parties.
The engagement model sets the foundation for collaboration between businesses and software development vendors. The chosen engagement model will help the parties determine the team setup, governance, daily workflow, responsibilities, pricing & payment model and more. Hence, the engagement model will directly impact the outcome of the engagement and the vendor relationship.
With outsourcing, you skip the long and time-consuming process of recruiting, onboarding, and training new team members, and you go straight to working with an already-formed team of proven professionals. While you do need those specialists for the development of the project, you probably don’t need them indefinitely, so outsourcing allows you to be flexible and scale up and down according to business needs, without the commitment of hiring a permanent in-office team.
Choosing the wrong engagement model for your project can lead to many undesirable outcomes, such as dissatisfaction with the final product, friction between you and your supplier, and, yes, loss of profit.
The fixed price engagement model is the classic approach in software development. It is exactly what it says on the tin — you get a fixed price and you do not pay any more than that.
In order to be able to get a fixed price, however, you need to know everything about your product in advance, and you need to be able to communicate that to your vendor in abundant clarity and detail.
The time and materials model means that you, as a client, are engaged with the project on a regular basis. You decide which of its features are of the highest priority, and they get developed iteratively — with you getting a functioning product at the end of each iteration.
The big benefit for you is that you can make changes to the requirements much more readily than with the fixed price model, and you only pay for the time the development team spends actually working on your product.
The slides of this template can be used by IT companies when discussing terms of work with a client. You can describe the main stages of software product development and choose the most suitable model.
Also, this template can be used by university teachers when preparing courses on project management. Project managers can use the slides in this template when they approve milestones with team members. Software startup executives can use the slides from this template when preparing a company’s business processes.
Engagement Model is a professional and modern template that contains four stylish and fully editable slides. If necessary, you can change all the elements of the slide in accordance with your corporate requirements. This template will be useful for startups, company executives, business coaches. Engagement Model template will organically complement your presentations and will be a great addition to your collection of professional presentations.