Do I have to pay for the whole project up front?

Learning Centre > Do I have to pay for the whole project up front?

No. We will normally charge you £4,750 for our DiscoveryPhase which is a fixed price for research and development work. Read more about our Discovery Phase here.

No. We will normally charge you £4,750 for our DiscoveryPhase which is a fixed price for research and development work. Read more about our Discovery Phase here.No. We will normally charge you £4,750 for our DiscoveryPhase which is a fixed price for research and development work. Read more about our Discovery Phase here.
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No. We will normally charge you £4,750 for our Discovery Phase which is a fixed price for research and development work.  Read more about our Discovery Phase here.

The Discovery Phase will enable us to get a better understanding of your product and business needs, and from there be able to provide you with a Payment Plan for your project.  This will likely detail the estimated basehours that we will work per month based on how quickly you need the project completed.

Here's a quick breakdown of the process:

·      Our Discovery Phase will be charged to you at £4,750. We will need to be paid in full before we start.

·      On completion of the Discovery Phase, we will present you with a project Estimate and Payment Plan. This will detail the hours that we estimate required to complete your project over a given timeframe. These will be your 'Base Hours'.

·      If we use up those Base Hours before the end of any given month, we will ask you if you want us to pause work until next month,or to you can top-up your project by adding additional hours.

·      The monthly Base Hours are chargeable at the beginning of each month, while the Top-up Hours are charged at the end of each month (i.e., once we know how many you are going to need that month).

 

Let’s look at this simple example for Joe Blogg's project:

In January, Joe begins the Discovery Phase which cost him£4,750 upfront.

For the month of February, Joe paid for 40 hours of work at £120 per hour. He was so excited about the progress of the project that he 'topped-up with an extra 15 hours of work on week 3. The extra hours are billed on day 31. The total cost for February is £6,600.

In March, Joe has some other particularly large expenses(unrelated to this project), so decided not to top up. So, his total spend in March is £4,750.

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No. We will normally charge you £4,750 for our DiscoveryPhase which is a fixed price for research and development work.

No. We will normally charge you £4,750 for our Discovery Phase which is a fixed price for research and development work.  Read more about our Discovery Phase here.

The Discovery Phase will enable us to get a better understanding of your product and business needs, and from there be able to provide you with a Payment Plan for your project.  This will likely detail the estimated basehours that we will work per month based on how quickly you need the project completed.

Here's a quick breakdown of the process:

·      Our Discovery Phase will be charged to you at £4,750. We will need to be paid in full before we start.

·      On completion of the Discovery Phase, we will present you with a project Estimate and Payment Plan. This will detail the hours that we estimate required to complete your project over a given timeframe. These will be your 'Base Hours'.

·      If we use up those Base Hours before the end of any given month, we will ask you if you want us to pause work until next month,or to you can top-up your project by adding additional hours.

·      The monthly Base Hours are chargeable at the beginning of each month, while the Top-up Hours are charged at the end of each month (i.e., once we know how many you are going to need that month).

 

Let’s look at this simple example for Joe Blogg's project:

In January, Joe begins the Discovery Phase which cost him£4,750 upfront.

For the month of February, Joe paid for 40 hours of work at £120 per hour. He was so excited about the progress of the project that he 'topped-up with an extra 15 hours of work on week 3. The extra hours are billed on day 31. The total cost for February is £6,600.

In March, Joe has some other particularly large expenses(unrelated to this project), so decided not to top up. So, his total spend in March is £4,750.

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Innovolo is a product development as a service provider. It offers R&D teams globally extra capacity, capability, and momentum in their product development and obsolescence management projects. Its services are used by clients in a variety of industries, including automotive, aerospace, consumer electronics, and medical devices. One of its clients is Kawneer, a leading manufacturer of aluminum products for the architectural and construction industries. Kawneer has been using Innovolo's services to help develop new products and to manage the obsolescence of its existing products. Thanks to Innovolo, Kawneer has been able to speed up its product development cycle and to reduce its costs. As a result, Kawneer has been able to bring new products to market faster and to better meet the needs of its customers.

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