In fixed cost projects, the risk for budget overruns lies with Votiva rather than the customer.
While this model has obvious advantages for you, the downside is that a very detailed requirements specification must be written before the project can start. Due to the nature of the engagement model, the specification must remain frozen throughout the project.
This model is therefore only suitable for customers who know exactly what they want and are able to define these requirements clearly in written form.
If you choose this model payments are made as milestones in the project are reached.
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