TIME & MATERIAL MODEL
Focus on development progress and cost.
Flexible negotiable budget option where requirement is not clear.
Preferred in evolving phase and can be charged hourly, weekly, daily or monthly rate for specific tasks, resources, work, materials or other expenses.
Can pay in parts and only for performed work.
Low risk for both parties.
Client has full control over the project. They can approve or add any task that is further implemented on demand.
No strict defined time limits for completion of project.