Time and Material Team
In this type of business model, client has to pay in accordance to the resource allocation for the execution of the task. Short term projects or the projects where the specifications can change or evolve during the course of task are considered most suitable for this kind of model. This is because the client can monitor the development of its project and hours are also set for the completion of the same. Quality does not get compromised while working in a given timeline and instead there is a more focused approach towards the task as there is an added pressure of task completion on time.
The approach for this model involves a lot of steps like pre-specification, problem identification, designing a framework, documentation etc. As the specifications evolve during the course of development, constant technical support is needed here. The money is charged either on hourly basis or on weekly basis in case of short assignments. This is done in keeping in mind the convenience of the client.
Advantages With T&M Team Model:
There are multiple advantages of this model. As the price gets fixed in the beginning, the model is very much popular among small software development companies and among the big ones having short term projects at hand. Some of the advantages of this time and material model are including but not limited to the ones mentioned below.
- Client has the flexibility of application revision during the course of the task
- The overall cost is optimized to a great extent.
- Realistic timelines are set by the experts
- Tailor-made solution is available to suit the business need
- Client can always increase or decrease the resources allocated and pay accordingly
- There is effective communication on both sides
- Work reports are generated in a regular manner
Time and Material model is a unique business model that takes away all the worries from the client side and offers complete satisfaction. It is very much flexible and thus is preferred by clients globally. We believe in imparting services to our clients in a way that suits them best and remain cost effective too.