What is the fixed price model in mobile app development?

You need to understand the fixed price mobile development model. In such a process, the development process is usually adjusted to the time and cost estimates that are generated on the project detail basis. The budget, the specification, and the delivery date are fixed. The roadmap for the project is established well, containing set milestones and deadlines that work as a schedule of payment.

The specifications that are well articulated allow you to get what you exactly need, and the set deadlines in advance make it possible for the project to be delivered on time. But with such a model, risk management is difficult. It is because the provider is the one responsible for the whole process of management, and thus, monitoring the project might become an issue.
There are chances that the unexpected might occur during mobile development:
• You might encounter difficulties whenever you require to change anything in the scope. There will be a need to modify the contract and come up with a new term. With that, your product will be affected, taking a long time to market.
• If there is any difficulty, the team is likely to deal with it; however, they deem fit on the scope that is appointed, as the agency will not accept to suffer loss. In such a scenario, you will have to forget about the quality of high code or quality assurance that is thorough. The team has the responsibility of providing a specific scope on a set period of time, and in case something comes out to light during the process, then what suffers most will be the quality.
• In case the team comes up with a new feature that seems to be great, or with a solution that has excellent business value, but which requires extra time, there might be no space for the ideas to be shared with you.

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