About us Process Success stories Innovations Contacts
Process > Cost Management > Payment Model
Payments are done according to an approved Schedule. Each payment is connected to a certain Milestone, and is paid when all of the acceptance criteria is met by the project team.
What is important for the project is to keep total amount of payments received higher than actual project cost, as total amount of staff-hours paid for task executors. This diagram shows the dynamic nature of project payments:
You will make payments (P1, P2, P3 and P4) in order to cover actual cost of the project, but strictly according to the approved Schedule document with a list of Milestones (M1, M2, and M3)
We accept different payment options: cashier checks, wire transfers to US bank account, credit cards (Visa, MasterCard, AmEx).
- ROM Estimate is based on preliminary specification you provided
- Budget is a final estimation of the project size and price
- Review an example of a project Schedule
- Learn how to track a project with Earned Value Analysis data
- Read about Iteration Plans (WBS, Gantt Chart, Network Diagram, etc.)
- Give us your requirements and get a ROM Estimate for your project, today
Citation from our software development contract: An Acceptance Statement is a written document signed by both parties when Deliverables for Effective Specification are successfully accepted by the customer. Accepted Statement is attached to the accepted Specification.
Last update on Jan 26, 2011