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The development of a marketplace to connect buyers and suppliers

This is a business to business solution, which aims to provide better organization of the communication between vendors (in this case – mostly wholesale distributors) and buyers (in this case the buyers are B2B clients). The project will start by providing simple automation of the ordering process. Once a website is up and running, more functionality will be gradually added according to your plans and ideas and also in regard to the feedback of the realtime users.

In order to implement the project, the Foridev team will work closely with the Customer to clarify the detailed requirements and provide intermediate results of the project.

In the course of the project implementation, modern approaches and software development methodologies will be used to effectively manage the project for the development of services, maintain the necessary level of communication and quality control.

Time-and-Materials vs Fixed Price agreement

The fixed-price agreement is a single-sum contract where a service provider is accountable for completing the project within the agreed sum set out in the bond. It can be an effective choice in those cases when requirements, specifications, and rates are highly predictable, elsewise the cost will be anything but constant. A client should be able to share his clear vision of the product with developers to ensure appropriate final results.

When to use a fixed-price contract:

  • Clear requirements and determined deadlines;
  • Limited or fixed budget;
  • Existence of MVPs (the prototype or some minimal valuable product has been already created);
  • Small projects with the limited project scope.
  • The time and material (T&M) contract is absolutely different and has an agile approach. It presupposes billing clients for actual work scope based on hourly rates of labor. Customers are charged for the number of hours spent on a specific project, plus the costs of materials. The main advantage of the T&M model is flexibility and opportunity to adjust requirements, shift directions, replace features, and involve users to get the very product.

    When to use T&M price contract:

  • Long-term projects with dynamic requirements;
  • Project scope is not yet fully known;
  • You want the flexibility to modify the scope or vary the workloads.
  • Project phases

      To develop the project specification and detailed requirements with an engagement of a client (or stakeholders), business analyst, project manager, and team leader, create a work breakdown structure of the project, prepare a more precise estimation on each stage.
      To approve estimation with a client, or decision-making person.
      To develop a project according to the documentation.
      To provide quality assurance service to be sure everything works according to the documentation
      To deploy the project to a client’s server and transfer to the client all rights on the completed job.