Promwad Innovation Company provides its clients and partners with flexible cooperation schemes, which you can choose from depending on scope of work, development budget, level and depth of management. You can choose the most convenient for you cooperation scheme by consulting our managers and specialists.
It may seem more effective to divide the project into several parts and for different implementation stages use different cooperation schemes. We are interested in exclusively simple and effective cooperation schemes where the result will be a successful product or business.
Fixed Price
During this cooperation scheme the project is evaluated in accordance with preliminary functional and technical requirements, technical task and technical project. The result of such evaluation is the certain amount of labour input needed for completing the project and estimated in man-months or man-days. As a result, Promwad Innovation Company and the Client sign an agreement, which states the fixed service costs and defines the payment scheme.
Such cooperation scheme is very efficient for projects, which can be clearly predicted, were implemented before, are typical or have minimal implementation risks for both parties. In case of high technical or organizational risks, it is better to resort to other cooperation schemes.
Projects implemented on such basis have the greatest internal control from the side of company’s managers. This cooperation scheme is more appropriate for making contracts for equipment development, design of device cases, PCB design.
Time and Material
During this cooperation scheme, the project is implemented according to the most flexible schedule for the Customer, who defines scope of works by him/herself. In this case, the payment for accomplished works is done in the beginning of the month following the reporting month and is calculated on the basis of actual labour input reported by company’s employees. You can choose such cooperation scheme either by signing a separate contract, or additional agreement to the current contract.
This cooperation scheme can be used for projects, which are hard to estimate and predict. Examples of such projects are technical support, software development, implementation of additional requirements or technical consulting on constant basis. Also, such scheme will be efficient for proof-of-concept or for design of pilot batch/device prototype for demonstration purposes. When using the ‘Actual labour input’ cooperation scheme, considerable participation of client’s management is expected.
Dedicated Team
Excellent cooperation scheme for large clients who decide to create a product or a range of products or plan to work with the same team for several years. During this cooperation scheme the client makes payments on constant monthly basis according to the cost of developers’ team stated in the contract. This scheme is flexible in the way it provides the possibility of team micro-management, individual candidate selection and costs differentiation depending on the qualification of specialists who make up the team.
This cooperation scheme is very efficient for large and long-term projects. The efficiency of the scheme is revealed only if the Client has a manager capable of efficiently interacting with the remote team and having enough experience in “outsourcing” services for developing new products, electronics or software. During this cooperation scheme you can start most risky projects and freeze them at any stage if it becomes necessary. This scheme ideally suits large-scale innovation projects and long-term partnership.
Complex Scheme
We welcome any choice of the cooperation scheme you make. We will help you to choose the most optimal scheme and minimize the risks. The experience shows that not always only one scheme satisfies Client’s requirements. In such cases, we suggest using a complex cooperation scheme. For example, hardware platform can be developed at fixed cost, while the software with the unknown set of functionalities in the beginning of development can be developed by signing an additional agreement on the basis of payment for actual labour input. Also, we can offer additional risk management from our side.
Even this approach cannot be considered as the last variant we can suggest to our clients. If the idea is clearly justified, confirmed by the business plan and investors are confident about the project success, we can offer the following partnership schemes:
- Division of allocations received from product sales;
- Introduction of royalty fees for closed IP-blocks;
- Divided intellectual rights on modules.
So, correctly chosen cooperation scheme and the understanding of the interaction process from the Client’s side guarantees the creation of successful product within the planned budget.
We are looking forward to working with you!
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