Time and Material
TIME AND MATERIAL
Time and Material is the best choice for those R&D projects where the overall amount of the required development effort cannot be predicted in advance, or where the business requirements for the software being developed are frequently changed during the development process. The Time & Material model is used if there is no whole vision of the final product and its implementation specifics and if it is impossible to divide it into several smaller stages.
- Flexible and negotiable budget and low risk for both parties;
- Opportunity to pay in parts and only for the performed work;
- Possibility of adding changes on the go
- Payment depends on the hours spent