Time & Materials
The Time & Materials pricing option is one where the client may or may not have a specific scope of work or project timeline and needs the flexibility to only pay for the time and materials consumed within a period of time. The client only pays only for the time spent by a Neumeric resource and any agreed expenses incurred to finish the project or take it to a specific point in time.
Under the T&M program the Account Manager will provide the client with a rate card outlining the billable resource rate per hour. Prior to the start of the project the Neumeric Account and Technical Project Managers (with the client) will review the
scope of services, present and agree to the resource rates, and provide the client with a Statement of Work detailing the services and charges to be provided.
Since the scope of services and the engagement time are flexible Neumeric assumes the work product accountability through the agreed scope of services and service time frame only – not le for completing the project. The client assumes the management of the deliverables, budget, and requirements.
Examples of fixed price projects:
- Projects where the requirements are not clearly defined
- Projects where the project timelines are not clearly defined
- Scope creep is expected
- Projects where the client needs the flexibility to assign resources to multiple projects since their needs may change unexpectedly