Julia Korytko. Fixed Price Projects

1. Fixed Price Projects
Lessons & Tips

2. Lead Project Manager
Delivery Manager
at Namecheap, Inc
PhD, PMP, PRINCE2 Practitioner
> 10 years of experience in IT and
Software Solutions
> 6 years on leading and managerial
positions

3. Similar results from many countries
shows a frequent use of fixed
price contracts.
Surveys typically report 40-
70% of all IT projects have
fixed price contracts.

6. Cost Overrun, %

8. ● On time
● On budget
● “...I would like to say that your
team sets the bar high for
excellence and we appreciated
your professionalism, level of
detail, responsiveness and
continued support.”
● Recommended to the
companies in this domain

9. ● Domain and business
● New client
● Discovery phase
○ Project Plan
○ Technical Specification
○ Project Specification
● Statement of Work

11. Check the stakeholders
Think about risks
Document all the details
#1 Discovery

12. #2 Leverage
Get support from your boss
Define your reserves
Define what is really fixed
and what is negotiable

13. #3 Team Focus
Team is everything!
Do all you can to get most
qualified people to your team
Try the team during ramp up

14. #4 Start
Pay attention to the start
Be ready to spend more on
start

15. Divide work into batches
and deliver in batches
Thus divide big fixed price
project into several fixed
price projects
#5 Workflow

16. Earned Value Analysis
might be helpful for Fixed
Price project
#6 Control

18. Tell them what you are
going to tell them
Tell them
Tell them what you just
told them
#7 Expectations

19. 168 change requests + ongoing
Manage any change:
review, document, track
progress.
Keep evidences of all details
#8 Changes

20. The earlier you pass external
expert—the better
- Processes
- Architecture
- Performance and Scalability
- Security
- Maintainability
#9 Experts

21. Peak-end rule and recency
bias
Attention to the last part of
the project
Farewell ritual
#10 Impression

22. #1 Do the discovery
#2 Define your reserves
#3 Try the team during ramp up period
#4 Be ready to spend more on start
#5 Divide work into batches
#6 Control and measure delivered value
#7 Set and manage expectations
#8 Keep evidences of change requests
#9 Organize expert’s review early in the project
#10 Make a good last impression

23. THANK YOU! QUESTIONS?