No business wants to invest in a product only to find no market. For well-known brands like Dropbox, Figma, Uber, etc., developing a Minimum Viable Product (MVP) is a well-liked launch strategy that has been highly successful. Making an MVP first is preferable to hastily coding the next big thing.
The world of IT is boosted with abbreviations. Today, let’s talk about one such abbreviation that stands for the software development lifecycle - SDLC meaning the process of managing a project from conception to retirement.
When starting cooperation with any partner, especially a new one, it’s natural to feel a bit worried. Every businessman wants to avoid risks and put every detail plainly and clearly into the contract.
Effective project management may reduce the wastage of resources and funds. That's why an understanding of the project management life cycle is crucial whether you're working on a small project or a massive challenge with great corporate importance.
Until recently when it came to software development pricing, the two most popular models were the Fixed Price and Time and Material. Each of the approaches has its welfares and weaknesses.
Imagine the situation: for several months, all your team is hard at work developing a project. The product is cool, you release a trial version — and suddenly the client says that «it’s just not what he meant». Or, he is totally satisfied with the functional, you shake hands, and in a couple of months, you occasionally come across the comment in which your ex-client complains: he invested excessive amounts of money in cooperation with you, and now the product doesn’t bring him any slightest profit. Obviously, it damages the image of the company.
When choosing the model of cooperation with IT company, you should pay attention to opportunities that open this or that pricing model. Among most popular pricing models in IT are Time and Materials and Fixed Price contracts. What is the difference and why we suggest using Time and Materials to win the desired goals?
