Time And Materials
You only pay for the real hours spent and ‘materials’ used.
The budget required is based on actually spent development effort and “materials” costs. During the quotation stage, we will provide you with an indicative expected budget based upon your ideas and requirements. You might want to use this engagement form when the requirements of your application are not fully clear yet.
- Long-term projects with continually evolving and unclear requirements.
- When you want enough flexibility to modify your requirements and to vary workload.
- You prefer to have maximum control over the development process.
- Execution of complex projects that needs several iterations.
- When you want transparency between you and the development team.
Pros and Cons
- It offers greater flexibility as you can make changes without thinking about the budget.
- This model is of low risk, that is it has a flexible and negotiable budget which is a win-win game for both the parties.
- This model allows you to proceed with each iteration until you have a solid MVP rather than planning everything.
- There is low budget control as the overall cost can exceed the expected budget if you request additional features.
- It requires full-fledged involvement from your side which includes spending much time in the communication with the development team.
- If you suggest numerous changes, then there could be a delay in the release date.