How We Work
XB Software works under the two contractual models:
- Time & Materials
- Fixed Price
Сompare your project needs with the models described below to select the most appropriate contract type. We work using both Agile and non-Agile methodologies, and can combine them to get the most out of each methodology to the benefit of your project. We work in full compliance with ISO 27001 and ISO 9001 standards.
Time & Materials
Fixed Price
Project size
Medium and large
Small and medium, or part of any size project (sprint, milestone, project stage)
Project duration
From 1 month to any
From 1 day to 4 months
Requirements for project start
High-level requirements
Detailed, fixed
Project scope
Implementation during the project process
Completion before the project start
Change requests
Possible during the project implementation
Possible after the project completion / within next product version
Project start
After the agreement signing
After project scope approved
Client control of the progress
Full control of the everyday progress
Low control of the process, only the results of the sprint / milestone / project stage
Project cost
Based on the time spent, does not include the risks
Based on the predictable time spent+risks
Reports
Daily reports
No
Methodology
Agile (Scrum, Kanban, Scrumban)
Agile (Scrum, Kanban, Scrumban) and non-Agile (Waterfall)
If you'd like us to help you with the selection of the most appropriate contractual model and/or discuss your project, feel free to contact our customer care management team.
Implementation and Payment Process
Time & Materials
What?
In this model you are charged for the total time spent by the project manager, developers and QA during the development stage according to the hourly rate.
When?
This model is suitable for open-ended and long-term/short-term projects that has no complete specification available at the initial stage and when amendments can be made to the specification during project development.
Other cases when this model is applicable: for startups with no or incomplete specification
For smooth start and further work on the project under Time & Materials model writing detailed specification documents is inevitable. You’ll cooperate and communicate with our project managers/ business analysts who will at your disposal to discuss any project-related issues and timely suggest the right solution.
Other cases when this model is applicable: for startups with no or incomplete specification
For smooth start and further work on the project under Time & Materials model writing detailed specification documents is inevitable. You’ll cooperate and communicate with our project managers/ business analysts who will at your disposal to discuss any project-related issues and timely suggest the right solution.
Why?
Time&Materials contract makes the development process more transparent, cost-effective and manageable.
At the project discussion stage we agree upon the project scope and our project managers prepare a detailed specification. Preliminary estimation is provided with indication of project duration and approximate cost per month. After you approve the estimation we conclude a NDA that covers all aspects of confidentiality, licensing and maintenance. When the contract is signed and the first installment is received, our team gets down to work.
In accordance with the contract terms you are billed monthly. Progress reports are submitted to your on a daily basis. Timesheets and prices are provided monthly.
At the project discussion stage we agree upon the project scope and our project managers prepare a detailed specification. Preliminary estimation is provided with indication of project duration and approximate cost per month. After you approve the estimation we conclude a NDA that covers all aspects of confidentiality, licensing and maintenance. When the contract is signed and the first installment is received, our team gets down to work.
In accordance with the contract terms you are billed monthly. Progress reports are submitted to your on a daily basis. Timesheets and prices are provided monthly.
Fixed Price
What?
A contractual model that means that the project price is fixed at the outset for the known project scope and no actual work price will be taken into account.
When?
This model is suitable when you have a project with fixed requirements, the timelines are set and the budget is critical.
Why?
It is considered the most cost-effective contractual model for small and middle-sized projects because you can budget for the costs and ensure there’s enough funds for project completion.
There are several types of fixed price contracts we work under:
- FPIF - fixed price сontract with incentive firm (firm target). It means you pay only for the project scope, while the actual work is not considered. If the target goal is achieved at less costs than stipulated at the outset, it results in higher profit for us. If the target goal is achieved at higher costs, you save money on the project.
- FFP - firm fixed price contract. It means the project price is fixed at the outset for the known project scope and can’t be changed during the project development.
- FP-EPA - fixed price contract with economic price adjustment. It means the price for the long-term contract that can last several years can change due to the changing project conditions, such as costs increase.
Learn more about Fixed Price Project and Time and Materials contracts:
Why Choose XB Software
- Experience (11+ years in IT Outsourcing, 150+ employees, 175+ completed projects, 200+ satisfied clients)
- Scalability (we have resources to gradually grow your outsourcing team)
- Absolute workflow transparency (providing an insight into what each team member is occupied with any time)
- Flexibility (work with both startups and big enterprises)
- Always ready-to-help customer-centric staff
Agile Project Management Methodologies
The use of Agile methodologies can facilitate project implementation and bring prosperity to your company. Agile project management means continuous improvement through iterations and feedback. XB Software follows the 12 principles of Agile Manifesto and has a primary focus on customer satisfaction, flexibility, communication and people.
Agile management of your project means:
- High flexibility: fast adaptation to changing circumstances (incl.requirements)
- Effective communication: ongoing collaboration between the your team and XB Software team
- Iterative development: writing the code and testing it in repeated cycles
To learn more about agile methodologies, read the articles listed below:
Software Development Life Cycle (SDLC). All About Kanban
Software Development Life Cycle (SDLC). Scrum Step by Step
Software Development Life Cycle (SDLC). Spiral Model
Scrum Master Games, or What Your Scrum Coach Didn’t Tell You
Find out how agile and non-agile methodologies can be combined:
Combining Waterfall, Kanban and Scrum. Real Use Case Experience
Kate Kozikcustomer care manager
If you’d like us to help you with the selection of the most appropriate contractual model and/or discuss your project, feel free to contact our customer care manager.