Neologic Budget Guarantee

The problems with software development projects

  • 66% of software projects have cost overruns
  • 33% of software projects have schedule overruns
  • 75% of managers are sceptical about the projects’ success
  • For each $1 bln invested in IT projects over $120 mln is wasted due to lacking project performance

 

At Neologic we provide customers with a written guarantee that their project budget will not increase

The founders of Neologic see these findings as totally unacceptable and their root causes as totally avoidable. But talk is cheap. Actions speak louder than words. And that’s the reason why the Neologic Budget Guarantee was created to govern how it builds its clients’ software and digital ecosystems.

 

We offer fully functional prototyping approach that eliminates budget overrun risks

  • We write strict business requirements that are detailed enough to eliminate any discrepancies in the final product
  • We build prototypes that involve all the stakeholders and thus shape the well thought out user experience and logic
  • We invest in creating the detailed solution before implementing the code so that our customers stay confident that their project will be successful in terms of budget and time

 

How we can help

 

 

Your Budget Will Not Increase

As a major differentiator, the Neologic Budget Guarantee offers something that’s pretty much unheard of among companies that build software and digital ecosystems: a written guarantee that your budget will not increase. No fine print. No weasel clauses or disclaimers.

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How it works

Budget guarantee 

Neologic offers two unique advantages. First, we use a combination of Agile and Waterfall methods. We create requirements up front and demonstrate tangible results to clients at the end of every sprint. The goal is that clients feel comfortable and are always kept up-to-date. Second, we prototype an actual end product before implementation and accompany it with a meticulous business requirements document (BRD). And we do it fast. This unique technique to create requirements is based on over 10 years of experience in working with a variety of clients.

 

Managing client expectations and stakeholder involvement

The ideal project includes a 1-hour exploratory meeting by phone, a 3-hour in-person discovery meeting, client subject matter expert meetings for information gathering, creating the prototype and the business requirements document (BRD), client stakeholder review of the prototype and BRD, scope breakdown, detailed timeline, and contract. Read here for more details.

 

Main point of contact and backup contact

For small projects, the client should appoint one person who will be responsible for delivery and feedback. For larger, more complex projects, the main point of contact would depend on who’s involved with that particular step of the project. The RACI chart will help to organize this.

 

Responsiveness and turnaround time

Turnaround time will vary based on where we are with the project. Subject matter experts should expect to spend 4 to 5 hours per week to review the prototype, the BRD, and provide feedback. We try to keep communication simple by setting up a communication hub or project management software, like Trello, where we keep everything organized and stakeholders can submit feedback and ask questions. Both parties should agree to acknowledge requests for feedback or questions within one business day.

 

Client reviews and sign-offs

The BRD and prototype will be made available through a link. Communication will happen through demos and conference calls. Feedback is exchanged through the communication hub or project management software.

 

Ready to start your safe digitization journey with Neologic? Contact us!

 

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