Software Project Management20815 marksTime and material contracts
Explain with an example when time and material contract will be beneficial.
Explain with an example when time and material contract will be beneficial. [5]
A Time and Material (T&M) contract is a type of contract where the client pays for: - The actual time spent by workers/resources (labour hours) - The actual cost of materials used - Plus an agreed markup or fee for overhead and profit When project requirements are not clearly defined at the outse...