1. Time&Material

The project is divided into tasks, each of which the team evaluates separately, so you have the opportunity to make any additions in the course of the work. When the task is completed and you have a visible result, you pay the team (payment can take place immediately after the sprint, monthly, quarterly, etc.). – as you like). This model is ideal for MVPs or projects that may change depending on the market. Project release and testing occurs at the end of each phase.

Flexibility of implementation

It is possible to make changes to the terms of reference during the project

Startup urgency

You can start without a complex terms of reference and a complete project

Convenience of interaction

The customer and the project manager are deeply involved in the implementation process

Cost optimization

The cost of the project changes both up and down as changes are made to the implementation plan

Transparency of work

Payment is made after the fact for specific work performed

2. Fixed Price

The model assumes that the budget for the development of the entire project and its Terms of Reference are approved before the start of work and remain unchanged. Also, before the start of work, the exact calendar date of project delivery is approved, which is based on the Statement of Work. Thus, you know exactly the cost and timing of the project, but can not make changes in the course of development. Release and testing of the project occurs at the end of all work.

Financial guarantees

The cost of the project is clear even before the work begins.

Exact deadlines

The date of project completion is fixed at the time of signing the contract

Saving time

You can not waste time communicating with performers and the team at the stage of product implementation

Accuracy of implementation

The work plan and final functionality is clear before implementation begins