The Pricing Process
We create a bespoke pricing structure for each project. We do this by first understanding your business goals by engaging in a discussion about the project, the intended solution, and ways of working. Depending on how well-defined a project is, together we then decide what type of contract is most appropriate and what the pricing structure should be. We have several different pricing structures that we can use, and we will work with you to find the best one for your project.
The process involves:
|Initial video call to discuss the project
|Understand the goals and ensure we are a good fit
|Second video call to discuss pricing structure
|Agree on the pricing structure and contract type
|Agree on the scope of the project and the pricing structure
|Agree on the contract and start the project
AI Pricing Structures
If the project involves a lot of research and development, and the specific tasks are not known ahead of time, then we typically engage in a time and materials contract. This is a good option for projects that are not well defined, or for projects that are likely to change scope during the project. The vast majority of our ongoing development projects are structured in this way, to give you the flexibility required to deliver the most value to your business.
If the project is well-defined, and the tasks are known ahead of time, then we sometimes engage in a fixed-price contract. Based on these tasks we develop a project plan summary. We use the summary to create an estimate of the costs. This is a good option for projects that are unlikely to change scope during the project. We often use this approach for proof-of-concept projects, where the scope is well-defined, and the project is likely to be completed within a few months. We often include phasing into the fixed-price contract, so that you can pay for the project in stages, or pull out if the project is not delivering value.
There is also a middle ground, a fixed-time contract, where the budget is constrained but deliverables are not guaranteed.
How We Work
Our work comprises of three dimensions: the type of project, the type of work, and the type of contract.
|ML RL MLOps AI
|Time & Materials Fixed Cost Time & Materials with Minimum
Main Factors Affecting the Price of an AI Project
The main factors that impact the size and therefore the cost of AI projects are:
|consulting vs. development, ML, RL, MLOps
|Complexity of the domain
|simple industrial control vs. complex medical imaging
|Impact of the problem
|minor process improvements vs. safety-critical
|Size of the problem
|data analysis vs. global-scale production
|Risks involved when accepting a contract
|fixed-cost contract with immature company vs. a time and materials contract with a mature company
In general, Consulting is more expensive than Development. In the long run, Fixed Cost projects are more expensive than Time & Materials. We charge a similar amount for all types of project.