There are a number of pricing options that we offer to our clients for project delivery and these have been developed to best meet their requirements by being creative and flexible to help in taking projects and products forward.
It is obviously important that everyone is happy with the option selected and Innovolo is currently working with clients under agreements/relationships based on all options.
Some of the pricing options would require Innovolo to take on a level of risk and would only be offered on selective projects. Our team is growing, and the added capacity and capability will also enable us to invest more of our time and knowledge and ultimately invest in projects for a longer term and greater potential return.
PROJECT SCOPING/QUOTING POLICY
Depending on the level of definition of the requirements provided by our clients we approach the pricing of projects in different ways. If a project’s requirements are explicitly defined, then we will quote a fixed price for the delivery of the work with an estimated delivery schedule.
If the project is undefined then we can either quote an hourly or daily rate for our services or agree how to handle/control the costs and invoicing. Alternatively, we can produce a ‘scope of works’ (SOW) document. The purpose of this document is to define the scope of the project to allow Innovolo to more accurately quote the total project costs. The document will outline the stages involved in the delivery of the project and the associated costs for each of these tasks. If necessary, a detailed breakdown of our intended approach will be created to give us confidence to provide a formal quotation. Often in this process we will be providing potential solutions to fully understand the level of work involved and our client could then use these.
With this in mind there is a cost to the SOW, which will be quoted to the client, and a purchase order will be required before commencement of the project planning and scoping. If after receipt and review of the SOW, the client wishes to proceed with the project the cost of the SOW will be deducted from the full project quotation.
We can also produce estimated costs for projects with undefined deliverables; however, these should be used for budgeting purposes only.
Formal quotations are maximum project costs; however, we reserve the right to re-quote if the client changes the project requirements or deliverables and all quotes will be delivered in line with our terms and conditions.