The Engagement model defines how we work together with our clients. The models are designed to provide flexibility to match the cost, schedule and quality requirements; and risk allocation to match the acceptable level of risk for both the client and CTO 24/7. In addition, a solution may be tailored that uses one, all, or a combination of the following models:
Time & Materials Engagement
CTO 24/7 provides clients with highly-skilled and experienced people who can add significant value quickly on a Time & Materials basis. The project cost is based upon project execution time and resources deployed. Well suited for:
- Design activities such as project scoping and specification writing
- Consulting time spent to address a particular problem
- Engagements that are complex and prone to design changes
- Engagements which require allocating a defined number of hours, which may not necessarily be continuous
Fixed Price / Duration Engagement
CTO 24/7 provides a set price and timeline for completion of a well defined, specific project or milestones within a project. We assume the risk and responsibility to deliver on time and within budget. Well suited for:
- Projects where the scope and specifications for the projects are reasonably clear
- Engagement where the scope and design of the work is subject to minimal change
- Technology modernization engagements
- Engagements where existing business processes are being automated
Leased Worker Engagement
CTO 24/7 provides a solution of committing to longer term contracts for specific people working exclusively for the client. This has a number of advantages not the least of which is cost optimization. Since CTO can allocate personnel for longer periods of time we can operate at lower margins and share the risk reduction benefits with the client. Leased workers are thoroughly trained on customer processes and establish good working relationships with customer personnel. The customer can also have a hand in selecting the leased workers that fit their needs. Well suited for:
- Long term ongoing work
- Building teams around a specific product, technology, or skill set
- Engagements that are complex and prone to design changes
- Engagements with multiple projects and changing priorities
- Creating an extension of the client’s own teams
Transactional Engagement
CTO 24/7 provides a pay-as-you-use, transactional model based on per transaction fees that adapt to business volumes. Typically used in a business process outsourcing engagement, the model can change the game for an organization by converting indirect fixed costs to direct variable costs. Well suited for:
- Engagements with standardized processes
- Engagements that are repeatable transactions
- Drastically reducing risk exposure from rapid growth or reduction
- Engagements with well defined boundaries
- Inconsistent or non-contiguous workloads
Hybrid Engagement
Under our hybrid engagement model, CTO 24/7 combines elements of our other models to optimize costs and maximize efficiency. For example, an engagement may start on a Time & Material basis while the requirements and scope of the engagement are being defined and then move to a Fixed Price or Transactional engagement to continue. The model allows for scalability and has enormous operational benefits. Well suited for:
- Engagements that do not fit well into a single type of engagement
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