Time and Material
(T&M) Model
The Time & Material (T&M) model at PieORBIT offers a flexible approach where clients pay for the actual time and resources used throughout a project. This model is particularly advantageous for projects with evolving requirements or unclear scopes, as it allows for adjustments and modifications as work progresses. Clients are billed based on the hours worked by PieORBIT’s team and the materials utilized, providing transparency and alignment with the project’s needs. While offering greater adaptability, the T&M model requires diligent monitoring to manage costs effectively and ensure the project remains within budget. It is ideal for projects where exact requirements are difficult to define upfront or where iterative development is needed.
PieORBIT's
Time and Material
(T&M) Model
We recommend Time and Material (T&M) Model to our clients when the project scope is not fully defined and is expected to evolve continuously.
In this model, the vendor provides resources with specified skill sets and charges a time-based billing rate for each resource type.
The T&M Engagement Model is ideal for:
- Continuous Product Evolution Programming
- Complex Large-Scale Projects
- Research and Consulting Assignments
- Solution Design
- Support & Maintenance Contracts
The T&M Model is particularly useful when a Requirements Analysis Exercise is needed to define the project scope. Following this exercise, you can transition to a Fixed Price Model for development based on the defined scope.
One of the key advantages of the T&M Model is its flexibility, allowing project specifications to evolve in response to changing market conditions, technology trends, or business priorities.
T&M arrangements typically include stringent project and time management practices, along with robust tracking and reporting mechanisms. This ensures enhanced value for the time and resources invested.
BENEFITS OF TIME & MATERIAL (T&M) MODEL
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