Software Development has huge benefits but is also a risky business. There are so many things that can go wrong that clients need to formulate a clear cut contract that covers all the legal bases capable of risk during software development.
These tips will help you in mitigating the risks in software development:
Different types of engagement models: There are different types of engagement models provided by a software development company. You should research and then decide the correct engagement model for your project. The fixed price contracts prove to be much better if proper scope of the project is provided.
Non Disclosure Agreements (NDAs): Clients should make sure that proper non disclosure agreement is signed between both the participating parties.
Paying Advance: Advance payment is the industry standard. However, clients can release the payments in two weeks interval so that the risk is minimized.
Avoid Freelancers: Freelancers can provide experienced and professional services at very cheap rates. However, often these freelancers disappear in the middle of the project due to project complications or any other reason. Avoid going to freelancers and stick to a reputed software development company.
Use PayPal or Credit card Carriers for making payment: PayPal and other credit card carriers keep records of all the transactions and their users. This information can be used in situations where payment issues are to be solved.
Project Analysis and Risk Assessment: Software development is always prone to risks. Both client and the software development company are at risk. Proper risk assessment and management activities must be done before starting with the development process.
Xicom technologies is a world renowned software development and web development company having three state of the art development centers in New Delhi, India. Xicom offers highly effective and business centric web, mobile and software solutions to 500+ global clients spread across diverse business verticals.
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