Time and budget constraints can be impetus for the more mutually beneficial agreement than ordinary fixed price model.
Time & Material model is developed for long-term projects, when it is difficult to estimate the required resources and thus plan the budget. This model provides you with a possibility to pay for company’s services in parts according to the payment agreement specified by the contract. After both sides have agreed on time limits, software, hardware, human and other resources required for your project, we would invoice you a monthly or weekly charge.
Flexible and negotiable budget
Possibility to pay in parts
Low risk: project development can be changed or canceled at any stage
No strictly defined time limits
The project budget is less controlled
The client is highly involved into the development process including the clearance and approval of time-sheets
This business model is quite flexible and highly efficient when it is hard to predict the final cost of the project and when the customer’s requirements can vary depending on different factors.
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