What is Fixed-price project?
Also called: Flat rate, One-time price
The short answer
A fixed-price project charges one agreed amount for a defined scope, so the client knows the total cost up front.
Fixed-price project, explained
It puts the risk of overruns on the builder, which is why the scope must be clear.
Questions people ask about Fixed-price project
What is Fixed-price project?
A fixed-price project charges one agreed amount for a defined scope, so the client knows the total cost up front.
Related terms
An hourly rate bills web work by the time spent; it suits open-ended work but makes the total cost uncertain.
Productised serviceA productised service sells a defined outcome, like a specific kind of website, at a fixed price with a fixed process, instead of custom quotes and hourly billing.
Scope of workA scope of work defines exactly what a web project includes (pages, features, rounds of revisions, deliverables), and by implication what it does not.
Web design agencyA web design agency is a company with designers, developers and strategists who plan, design and build websites for clients, usually on a quote-based project fee.
Part of the Web Encyclopedia by Apex Flow Digital. Definitions are general knowledge, kept current, with no invented statistics.