steps to be followed while moving from T&M to fixed price model
Bala S DuvvuriProject Manager| ShellBangalore, Karnataka, India
Hello Fellow PMs,
Can you please let me know the steps to be followed while moving from T&M to fixed price model.
Thanks
Bala Saving Changes...
saurabh mahajanPMP, ITIL, PRINCE2| vodafonePune, Maharashtra, India
1) Plan for all your activity cost wisely
2) Profit margin should also be considered
3) Risk for performing organization is greater in fixed price contract
4) Risk cost should be considered
5) Resources should be more efficiently planned as cost for them will be fixed
6) Study previous such projects
7) Scheduled should be very well planned as rework,schedule overrun, will be costly and will reduce the profit margin
All in all you will have to plan way too good for all aspects of project management. Like for quality, risk, human resource, procurement, change, cost, schedule, etc , etc Saving Changes...
